Hormel Foods Corp VP Brian Dean Johnson Sells 3,000 Shares (HRL)
Hormel Foods Corp (NYSE:HRL) VP Brian Dean Johnson sold 3,000 shares of Hormel Foods Corp stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $50.63, for a total transaction of $151,890.00. Following the sale, the vice president now directly owns 23,229 shares of the company’s stock, valued at approximately $1,176,084. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
HRL has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp in a research note on Friday. They now have a $53.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Hormel Foods Corp in a research note on Friday, August 22nd. They now have a $52.00 price target on the stock, up previously from $50.00. Finally, analysts at Stephens upgraded shares of Hormel Foods Corp from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 22nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.75.
Shares of Hormel Foods Corp (NYSE:HRL) traded up 0.10% during mid-day trading on Friday, hitting $50.70. 175,457 shares of the company’s stock traded hands. Hormel Foods Corp has a one year low of $40.60 and a one year high of $50.75. The stock has a 50-day moving average of $47.73 and a 200-day moving average of $47.82. The company has a market cap of $13.384 billion and a price-to-earnings ratio of 23.23.
Hormel Foods Corp (NYSE:HRL) last announced its earnings results on Thursday, August 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Hormel Foods Corp will post $2.23 EPS for the current fiscal year.
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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