One Credit Suisse analyst just couldn't believe how much his Thanksgiving turkey cost at Stop & Shop
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Credit Suisse analyst Robert Moskow can't believe how expensive his Thanksgiving turkey was this year.
On Hormel's fourth-quarter earnings call on Tuesday, Moskow opened his question to Hormel management by noting that he just bought his turkey at Stop & Shop.
And boy, was it expensive.
Here's Moskow, via Seeking Alpha: "Hey there. A great year, great two years in a row, so here is a question about turkey. I literally just bought our turkey at Stop & Shop $75, $3.12 a pound. I mean it seems like a shockingly high price."
Hormel CFO Jody Feragen joked that it was probably a Jennie-O, Hormel's turkey brand. Moskow did not confirm this, and followed up with a general question about profit guidance for the Jennie-O segment.
So not only did Moskow get in an anecdote about how much his Thanksgiving turkey cost, but he also got in a version of a "Great quarter, guys" comment.
In a way, this is the perfect earnings-call question.
Overall, Hormel's quarter was better than expected, with the company reporting adjusted earnings per share of $0.74 against expectations for $0.69.
But revenue was a bit light, coming in at $2.4 billion against expectations for $2.51 billion.
On Tuesday, Hormel shares gained 3%.
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