Hormel Foods Corp (NYSE:HRL) SVP Kevin L. Myers Sells 2,171 Shares

Hormel Foods Corp (NYSE:HRL) SVP Kevin L. Myers sold 2,171 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.00, for a total transaction of $95,524.00. Following the completion of the sale, the senior vice president now directly owns 15,841 shares in the company, valued at $697,004. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE HRL opened at $44.00 on Friday. Hormel Foods Corp has a one year low of $37.00 and a one year high of $46.26. The company’s 50 day moving average price is $41.85 and its 200 day moving average price is $41.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 2.09. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 3.34 and a beta of 0.06.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $0.39 earnings per share. Hormel Foods’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that Hormel Foods Corp will post 1.74 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of HRL. Comerica Securities Inc. raised its holdings in Hormel Foods by 57.9% in the fourth quarter. Comerica Securities Inc. now owns 34,594 shares of the company’s stock valued at $1,476,000 after buying an additional 12,680 shares during the period. Dimensional Fund Advisors LP raised its holdings in Hormel Foods by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,926,223 shares of the company’s stock valued at $82,209,000 after buying an additional 9,530 shares during the period. Geode Capital Management LLC raised its holdings in Hormel Foods by 16.4% in the fourth quarter. Geode Capital Management LLC now owns 4,248,495 shares of the company’s stock valued at $181,055,000 after buying an additional 598,442 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Hormel Foods by 20.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 32,083 shares of the company’s stock valued at $1,436,000 after buying an additional 5,555 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in Hormel Foods by 1.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 440,075 shares of the company’s stock valued at $19,698,000 after buying an additional 6,850 shares during the period. Hedge funds and other institutional investors own 44.37% of the company’s stock.

Several research firms recently issued reports on HRL. Edward Jones cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Tuesday, August 27th. Stephens set a $37.00 target price on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets set a $44.00 target price on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.10.

About Hormel Foods

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

See Also: Limitations of the P/E Growth ratio

Insider Buying and Selling by Quarter for Hormel Foods (NYSE:HRL)

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.