Hormel Foods Corp (HRL) Insider Sells $1,709,000.00 in Stock
Hormel Foods Corp (NYSE:HRL) insider Steven G. Binder sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $34.18, for a total value of $1,709,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Hormel Foods Corp (NYSE HRL) opened at $36.45 on Friday. The stock has a market capitalization of $19,240.00, a PE ratio of 21.89, a PEG ratio of 2.24 and a beta of 0.59. 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 $37.97.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping the 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 firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company posted $0.45 EPS. Hormel Foods’s revenue was down 5.1% on a year-over-year basis. sell-side analysts predict that Hormel Foods Corp will post 1.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. Hormel Foods’s dividend payout ratio is presently 43.31%.
Hedge funds have recently modified their holdings of the company. Dupont Capital Management Corp bought a new position in Hormel Foods in the 3rd quarter valued at about $100,000. Acrospire Investment Management LLC acquired a new position in shares of Hormel Foods during the 2nd quarter worth approximately $111,000. BB&T Investment Services Inc. acquired a new position in shares of Hormel Foods during the 2nd quarter worth approximately $118,000. Bronfman E.L. Rothschild L.P. grew its position in shares of 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, Penserra Capital Management LLC acquired a new position in shares of Hormel Foods during the 2nd quarter worth approximately $189,000. 38.33% of the stock is currently owned by institutional investors.
HRL has been the subject of several research reports. Morgan Stanley began coverage on shares of Hormel Foods in a report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price objective for the company. BMO Capital Markets restated a “buy” rating and issued a $38.00 price objective on shares of Hormel Foods in a research report on Monday, November 6th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Mizuho reiterated a “hold” rating and issued a $33.00 target price on shares of Hormel Foods in a research note on Wednesday, October 4th. Finally, Credit Suisse Group dropped coverage on Hormel Foods in a report on Saturday, August 26th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $35.00.
Hormel Foods Company Profile
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