Hormel Foods Corporation (NYSE:HRL) announced on Tuesday that it has higher quarterly earnings as losses in the firm’s hog operations were offset by profit increase in other parts of the business.
The seller of Spam canned ham, Hormel meats and Jennie-O turkeys reported that net income had surged to $132.6M, or 49 cents a share, in the Q4 ended on Oct. 28 from $117.3M, or 43 cents a share, a year before.
Net sales moved up to $2.17 billion from $2.10 billion.
The firm estimates fiscal 2013 earnings of $1.90 to $2.00 a share.
Shares of Hormel Foods Corporation (NYSEHRL) opened at $29.84 with 262.88 million outstanding shares and touch its highest price of $30.09 of the day and then traded at $29.91 by scoring -0.47% at time 11:09AM EST, as in the current session stocks gain volume of 316,787.00 shares which is lower than its average volume.
As the owner ship concerns stocks institutional ownership remained 33.43% while insider ownership included 0.20%. The share capital of HRL has 262.88 million outstanding shares amid them 134.11 million shares have been floated in market.
For investors focus on the performance of the stocks so the HRL showed weekly behind performance of -0.76% which was maintained for the month at +1.86%. Correspondingly the positive performance for the quarter was remained +6.07% and if took notice on yearly performance that was +4.78% whereas the year to date performance halted at +4.74%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the HRL return on investment was recorded as 13.70% as compare to its rivals has Tyson Foods, Inc (NYSE:TSN)’s ROI 5.47%, BRF Brasil Foods SA (ADR) (NYSE:BRFS)’s ROI 2.79%, Smithfield Foods, Inc (NYSE:SFD)’s ROI 5.70%, Pilgrim’s Pride Corporation (NYSE:PPC)’s ROI -5.98%.
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