Insider Selling: Hormel Foods Corp (NYSE:HRL) Director Sells 7,129 Shares of Stock

Hormel Foods Corp (NYSE:HRL) Director Elsa A. Murano sold 7,129 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $36.00, for a total transaction of $256,644.00. Following the sale, the director now owns 90,991 shares of the company’s stock, valued at approximately $3,275,676. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Hormel Foods Corp (HRL) opened at $34.55 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. Hormel Foods Corp has a 1 year low of $29.75 and a 1 year high of $38.00. The company has a market cap of $18,300.00, a price-to-earnings ratio of 22.01, a P/E/G ratio of 2.22 and a beta of 0.65.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. research analysts expect that Hormel Foods Corp will post 1.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, January 12th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is 47.77%.

Several analysts have commented on the stock. Barclays set a $40.00 target price on shares of Hormel Foods and gave the company an “overweight” rating in a research report on Friday, December 1st. Jefferies Group set a $34.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a research report on Thursday, November 30th. Piper Jaffray Companies assumed coverage on shares of Hormel Foods in a research report on Thursday, January 4th. They set an “overweight” rating and a $42.00 target price for the company. Zacks Investment Research cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Mizuho set a $34.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a research report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Hormel Foods presently has a consensus rating of “Hold” and a consensus target price of $35.70.

Hedge funds have recently added to or reduced their stakes in the business. Dupont Capital Management Corp bought a new position in Hormel Foods during the 3rd quarter worth about $100,000. Acrospire Investment Management LLC bought a new position in Hormel Foods during the 2nd quarter worth about $111,000. BB&T Investment Services Inc. bought a new position in Hormel Foods during the 2nd quarter worth about $118,000. Bronfman E.L. Rothschild L.P. increased its holdings in Hormel Foods by 0.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in Hormel Foods during the 4th quarter worth about $218,000. Hedge funds and other institutional investors own 38.11% of the company’s stock.

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Hormel Foods Company Profile

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

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