Insider Selling: Hormel Foods Corp (HRL) Insider Sells 48,000 Shares of Stock

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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.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 22nd will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, October 19th. Hormel Foods’s payout ratio is 47.77%.

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

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