Hormel Foods Corp (NYSE:HRL) Director Glenn S. Forbes sold 4,492 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $33.71, for a total transaction of $151,425.32. Following the completion of the transaction, the director now owns 50,326 shares in the company, valued at $1,696,489.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Hormel Foods Corp (NYSE:HRL) opened at $33.72 on Thursday. The stock has a market cap of $18,021.78, a PE ratio of 19.84, a PEG ratio of 2.00 and a beta of 0.53. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.74.
Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Hormel Foods had a net margin of 9.92% and a return on equity of 17.44%. Hormel Foods’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. sell-side analysts forecast that Hormel Foods Corp will post 1.82 EPS for the current year.
Several institutional investors have recently made changes to their positions in HRL. Dupont Capital Management Corp bought a new stake in shares of Hormel Foods in the third quarter valued at about $100,000. Steward Partners Investment Advisory LLC boosted its position in shares of Hormel Foods by 3,200.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock valued at $120,000 after acquiring an additional 3,200 shares during the period. Bbva Compass Bancshares Inc. bought a new stake in shares of Hormel Foods in the fourth quarter valued at about $205,000. Two Sigma Securities LLC bought a new stake in shares of Hormel Foods in the fourth quarter valued at about $206,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Hormel Foods in the fourth quarter valued at about $218,000. 39.40% of the stock is owned by institutional investors.
About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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