Insider Selling: Hormel Foods Corp VP Sells 1,200 Shares of Stock (HRL)
Hormel Foods Corp (NYSE:HRL) VP Donald H. Kremin sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $51.12, for a total transaction of $61,344.00. Following the completion of the transaction, the vice president now directly owns 13,754 shares in the company, valued at approximately $703,104. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on HRL. Analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp in a research note on Friday, August 29th. 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Hormel Foods Corp currently has an average rating of “Hold” and an average price target of $53.75.
Hormel Foods Corp (NYSE:HRL) traded down 0.63% on Thursday, hitting $50.82. The stock had a trading volume of 762,198 shares. Hormel Foods Corp has a 52 week low of $41.40 and a 52 week high of $51.34. The stock has a 50-day moving average of $47.93 and a 200-day moving average of $48.03. The company has a market cap of $13.416 billion and a price-to-earnings ratio of 23.46.
Hormel Foods Corp (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 21st. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue 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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