A Credit Suisse Analyst Is Shocked By Thanksgiving Turkey Prices At Stop & Shop

Hormel and the cost of a turkey

Credit Suisse analyst Robert Moskow was incredibly surprised when the turkey he purchased from a Stop & Shop this week cost him $75.

During Hormel’s fourth-quarter earnings call on Tuesday, Moskow opened with a comment directed at the company.

Seeking Alpha¬†caught his comment: “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. That suggestion was not confirmed by Moskow.

Hormel’s quarter was better than expected, as the company reported adjusted earnings per share of $0.74 against expectations of $0.69.

Revenue fell short $2.4 billion against expectations of $2.51 billion.

The company’s shares jumped by 3% on Tuesday.

Written by Lane Hanson

Lane Hanson

Lane Hanson is BusinessPundit's Economy Editor. He reports on major changes in the US and Global Economies.