Hormel Foods Announces Acquisition of Justin's® Specialty Nut Butter Brand
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Jefferies Cuts Price Target on Hormel Foods (HRL) to $40; Reiterates Hold Rating
May 19, 2016 10:02 AM EDTJefferies maintained a Hold rating on Hormel Foods (NYSE: HRL), and cut the price target to $40.00 (from $43.00), following the company's 2Q earnings report. Results in Specialty Foods were driven by lower input costs, operational synergies and favorable y/y comps. In addition,... More
Hormel Foods (HRL) Tops Q2 EPS by 1c; Boosts FY16 EPS Outlook; Will Acquire Justin’s, LLC
May 18, 2016 7:00 AM EDTHormel Foods (NYSE: HRL) reported Q2 EPS of $0.40, $0.01 better than the analyst estimate of $0.39. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.3 billion.
ACQUISITION:
Hormel also announced it has entered into a definitive agreement to acquire Justins, LLC (Justins), owner of the Justins brand and a pioneer in nut butter-based snacking. Justins markets four successful nut butter-based snack lines spreads,... More
