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.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/12/01/hormel-foods-corp-hrl-insider-sells-1709000-00-in-stock.html.

Hormel Foods Company Profile

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

Receive News & Ratings for Hormel Foods Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp and related companies with MarketBeat.com's FREE daily email newsletter.