Elsa A. Murano Sells 7,129 Shares of Hormel Foods Corp (HRL) Stock
Hormel Foods Corp (NYSE:HRL) Director Elsa A. Murano sold 7,129 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $36.00, for a total transaction of $256,644.00. Following the completion of the transaction, the director now owns 90,991 shares of the company’s stock, valued at approximately $3,275,676. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Hormel Foods Corp (NYSE:HRL) opened at $36.35 on Monday. Hormel Foods Corp has a one year low of $29.75 and a one year high of $38.00. The stock has a market cap of $19,250.00, a PE ratio of 23.15, a P/E/G ratio of 2.34 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 company 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. Hormel Foods’s revenue was down 5.1% compared to the same quarter last year. equities analysts expect that Hormel Foods Corp will post 1.67 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.06%. The ex-dividend date 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 currently 43.31%.
A number of hedge funds and other institutional investors have recently made changes to their positions in HRL. Fairpointe Capital LLC purchased a new stake in Hormel Foods during the 2nd quarter valued at about $113,723,000. Capital International Investors grew its stake in Hormel Foods by 28.4% during the 3rd quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock valued at $341,808,000 after acquiring an additional 2,350,000 shares in the last quarter. Valueinvest Asset Management S.A. grew its stake in Hormel Foods by 29.2% during the 3rd quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock valued at $222,264,000 after acquiring an additional 1,563,700 shares in the last quarter. Principal Financial Group Inc. grew its stake in Hormel Foods by 264.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,505,505 shares of the company’s stock valued at $48,387,000 after acquiring an additional 1,092,714 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Hormel Foods by 44.2% during the 3rd quarter. American Century Companies Inc. now owns 3,051,908 shares of the company’s stock valued at $98,088,000 after acquiring an additional 936,053 shares in the last quarter. 38.09% of the stock is owned by institutional investors.
HRL has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, November 23rd. BMO Capital Markets restated a “buy” rating and set a $38.00 price target on shares of Hormel Foods in a research report on Monday, November 6th. Mizuho restated a “hold” rating and set a $33.00 price target on shares of Hormel Foods in a research report on Wednesday, October 4th. KeyCorp assumed coverage on shares of Hormel Foods in a research report on Tuesday, October 31st. They set a “hold” rating for the company. Finally, Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $35.70.
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