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.