Hormel Foods Corp (NYSE:HRL) VP Jana L. Haynes sold 26,506 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $42.65, for a total transaction of $1,130,480.90. Following the completion of the transaction, the vice president now owns 2,500 shares of the company’s stock, valued at approximately $106,625. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Hormel Foods stock opened at $44.00 on Friday. The stock has a market capitalization of $22.91 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 3.28 and a beta of 0.06. The company has a quick ratio of 1.06, a current ratio of 2.09 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $41.85 and a 200 day simple moving average of $41.47. Hormel Foods Corp has a 12-month low of $37.00 and a 12-month high of $46.26.
Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. On average, equities analysts anticipate that Hormel Foods Corp will post 1.74 earnings per share for the current year.
A number of equities analysts have recently issued reports on the stock. ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Buckingham Research dropped their target price on shares of Hormel Foods from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Edward Jones cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Piper Jaffray Companies set a $46.00 target price on shares of Hormel Foods and gave the stock a “buy” rating in a research report on Thursday, May 23rd. 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 assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.10.
Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in Hormel Foods by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,926,223 shares of the company’s stock valued at $82,209,000 after acquiring an additional 9,530 shares in the last quarter. Achmea Investment Management B.V. increased its position in Hormel Foods by 15.6% in the 2nd quarter. Achmea Investment Management B.V. now owns 127,036 shares of the company’s stock valued at $5,151,000 after acquiring an additional 17,172 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Hormel Foods by 3.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,116 shares of the company’s stock valued at $1,035,000 after acquiring an additional 805 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Hormel Foods in the 1st quarter valued at about $242,000. Finally, First Allied Advisory Services Inc. increased its position in Hormel Foods by 2.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 59,288 shares of the company’s stock valued at $2,404,000 after acquiring an additional 1,313 shares in the last quarter. Hedge funds and other institutional investors own 44.37% of the company’s stock.
Hormel Foods Company Profile
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.
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