Hormel Foods Corp (NYSE:HRL) insider Deanna T. Brady sold 48,000 shares of Hormel Foods stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $41.05, for a total value of $1,970,400.00. Following the completion of the transaction, the insider now directly owns 83,102 shares of the company’s stock, valued at $3,411,337.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Hormel Foods stock traded up $0.01 on Friday, reaching $39.69. 2,322,575 shares of the company were exchanged, compared to its average volume of 2,656,172. Hormel Foods Corp has a 1-year low of $29.75 and a 1-year high of $42.29. The company has a market cap of $21.00 billion, a PE ratio of 25.28, a P/E/G ratio of 2.69 and a beta of 0.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.78 and a current ratio of 1.69.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 23rd. The company reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Hormel Foods Corp will post 1.76 earnings per share for the current fiscal year.
Several equities analysts have weighed in on HRL shares. ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $44.00 target price on shares of Hormel Foods in a research report on Wednesday, August 29th. Stephens downgraded Hormel Foods from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Barclays downgraded Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective for the company. in a research report on Friday, August 24th. Finally, Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $37.27.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Hormel Foods by 1.8% during the second quarter. BlackRock Inc. now owns 20,547,912 shares of the company’s stock worth $764,587,000 after purchasing an additional 358,834 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Hormel Foods by 45,760.7% during the second quarter. Macquarie Group Ltd. now owns 6,191,200 shares of the company’s stock worth $230,375,000 after purchasing an additional 6,177,700 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Hormel Foods by 14.1% during the first quarter. Champlain Investment Partners LLC now owns 4,202,680 shares of the company’s stock worth $144,236,000 after purchasing an additional 518,445 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Hormel Foods by 25.4% during the second quarter. Victory Capital Management Inc. now owns 3,817,032 shares of the company’s stock worth $142,031,000 after purchasing an additional 773,545 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in Hormel Foods by 1.0% during the first quarter. Westwood Holdings Group Inc. now owns 2,720,986 shares of the company’s stock worth $93,384,000 after purchasing an additional 26,954 shares during the last quarter. Hedge funds and other institutional investors own 41.83% of the company’s stock.
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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