Hormel Foods Corporation (NYSE:HRL) insider Steven G. Binder sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $32.00, for a total transaction of $480,000.00. Following the completion of the sale, the insider now directly owns 26,838 shares in the company, valued at approximately $858,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Hormel Foods Corporation (NYSE:HRL) opened at 31.27 on Friday. Hormel Foods Corporation has a 52-week low of $30.50 and a 52-week high of $38.84. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 19.30 and a beta of 0.58. The firm’s 50-day moving average is $32.60 and its 200 day moving average is $33.86.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business posted $0.36 earnings per share. Hormel Foods Corporation’s revenue was down 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Hormel Foods Corporation will post $1.56 earnings per share for the current year.

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A number of analysts have recently commented on HRL shares. Zacks Investment Research lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Monday, May 29th. Barclays PLC started coverage on shares of Hormel Foods Corporation in a research report on Tuesday, June 6th. They issued an “overweight” rating and a $38.00 price objective on the stock. Mizuho started coverage on shares of Hormel Foods Corporation in a research report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price objective on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Finally, Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Hormel Foods Corporation in a research report on Friday, June 16th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Hormel Foods Corporation presently has a consensus rating of “Hold” and an average target price of $38.30.

Large investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Hormel Foods Corporation by 1,105.9% during the 1st quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock worth $657,673,000 after purchasing an additional 17,416,591 shares during the period. State Street Corp raised its stake in shares of Hormel Foods Corporation by 93.3% during the 1st quarter. State Street Corp now owns 30,094,045 shares of the company’s stock worth $1,042,171,000 after purchasing an additional 14,529,149 shares during the period. Fairpointe Capital LLC bought a new stake in shares of Hormel Foods Corporation during the 2nd quarter worth $113,723,000. Westwood Holdings Group Inc. raised its stake in shares of Hormel Foods Corporation by 738.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock worth $87,700,000 after purchasing an additional 2,230,574 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Hormel Foods Corporation by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after purchasing an additional 1,608,528 shares during the period. Institutional investors and hedge funds own 38.95% of the company’s stock.

About Hormel Foods Corporation

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

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