Hormel Foods Corp. Director Dakota Pippins Unloads 1,725 Shares (HRL)
Hormel Foods Corp. (NYSE:HRL) Director Dakota Pippins sold 1,725 shares of Hormel Foods Corp. stock on the open market in a transaction dated Thursday, January 9th. The shares were sold at an average price of $44.92, for a total transaction of $77,487.00. Following the completion of the transaction, the director now directly owns 44,106 shares in the company, valued at approximately $1,981,242. 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) traded up 1.09% on Friday, hitting $45.60. The stock had a trading volume of 360,978 shares. Hormel Foods Corp. has a one year low of $34.19 and a one year high of $46.18. The stock’s 50-day moving average is $44.81 and its 200-day moving average is $42.82. The company has a market cap of $12.023 billion and a P/E ratio of 23.13.
Hormel Foods Corp. (NYSE:HRL) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company posted $0.49 earnings per share. Hormel Foods Corp.’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Hormel Foods Corp. will post $2.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Investors of record on Wednesday, January 22nd will be given a dividend of 0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from Hormel Foods Corp.’s previous quarterly dividend of $0.17.
HRL has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Hormel Foods Corp. in a research note to investors on Monday, December 16th. They set a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp. in a research note to investors on Tuesday, December 3rd. They now have a $48.00 price target on the stock. Finally, analysts at Stephens downgraded shares of Hormel Foods Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, November 27th. They now have a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.75.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally.
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