Hormel Foods Co. (NYSE:HRL) VP Steven J. Lykken Buys 4,904 Shares of Stock

Hormel Foods Co. (NYSE:HRL) VP Steven J. Lykken purchased 4,904 shares of the stock in a transaction dated Friday, December 6th. The stock was purchased at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the purchase, the vice president now directly owns 7,100 shares of the company’s stock, valued at approximately $230,537. The trade was a 223.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hormel Foods Trading Up 1.1 %

NYSE:HRL opened at $33.56 on Wednesday. The business’s 50-day moving average is $31.12 and its two-hundred day moving average is $31.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $36.86. The firm has a market capitalization of $18.40 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. Research analysts predict that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, January 13th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.46%. Hormel Foods’s payout ratio is currently 79.45%.

Hedge Funds Weigh In On Hormel Foods

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in Hormel Foods during the third quarter worth approximately $32,000. International Assets Investment Management LLC acquired a new stake in Hormel Foods during the 2nd quarter valued at $34,000. Prospera Private Wealth LLC acquired a new stake in Hormel Foods during the 3rd quarter valued at $39,000. Sentry Investment Management LLC purchased a new position in shares of Hormel Foods during the 2nd quarter valued at $42,000. Finally, GAMMA Investing LLC grew its holdings in shares of Hormel Foods by 516.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after acquiring an additional 1,132 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BNP Paribas started coverage on Hormel Foods in a research report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. Stephens initiated coverage on Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, Citigroup lowered their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average price target of $31.29.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.