Insider Selling: Hormel Foods Corporation (HRL) Insider Sells 15,000 Shares of Stock
Hormel Foods Corporation (NYSE:HRL) insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the sale, the insider now directly owns 26,838 shares of the company’s stock, valued at approximately $858,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Hormel Foods Corporation (NYSE:HRL) last posted its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS.
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Several research firms recently weighed in on HRL. Credit Suisse Group cut their price objective on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, May 26th. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and set a $34.00 price objective on shares of Hormel Foods Corporation in a research report on Friday, June 30th. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. Finally, Mizuho initiated coverage on Hormel Foods Corporation in a research note on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.30.
Several hedge funds and other institutional investors have recently bought and sold shares of HRL. CLS Investments LLC lifted its holdings in shares of Hormel Foods Corporation by 4.7% during the second quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock worth $1,314,000 after purchasing an additional 1,723 shares during the period. Financial Counselors Inc. acquired a new position in Hormel Foods Corporation in the second quarter valued at $4,290,000. Jacobi Capital Management LLC lifted its holdings in Hormel Foods Corporation by 24.1% in the first quarter. Jacobi Capital Management LLC now owns 10,300 shares of the company’s stock valued at $355,000 after buying an additional 2,000 shares during the period. Hills Bank & Trust Co. acquired a new position in Hormel Foods Corporation in the second quarter valued at $210,000. Finally, Nexus Investment Management Inc. lifted its holdings in Hormel Foods Corporation by 33.3% in the second quarter. Nexus Investment Management Inc. now owns 8,000 shares of the company’s stock valued at $273,000 after buying an additional 2,000 shares during the period. 38.95% of the stock is currently owned by hedge funds and other institutional investors.
Hormel Foods Corporation Company Profile
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