Hormel Foods Corp (HRL) Insider Thomas R. Day Sells 34,346 Shares

Hormel Foods Corp (NYSE:HRL) insider Thomas R. Day sold 34,346 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.47, for a total transaction of $1,252,598.62. Following the completion of the transaction, the insider now directly owns 73,770 shares of the company’s stock, valued at approximately $2,690,391.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hormel Foods Corp (NYSE:HRL) traded up $0.32 during trading on Friday, reaching $36.77. 3,316,448 shares of the company were exchanged, compared to its average volume of 2,405,852. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. Hormel Foods Corp has a 12 month low of $29.75 and a 12 month high of $37.97. The stock has a market cap of $19,410.00, a price-to-earnings ratio of 21.89, a P/E/G ratio of 2.24 and a beta of 0.59.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company posted $0.45 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. equities analysts predict that Hormel Foods Corp will post 1.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be given a $0.1875 dividend. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, January 12th. Hormel Foods’s dividend payout ratio is 43.31%.

A number of research analysts recently commented on the stock. Barclays set a $40.00 price target on shares of Hormel Foods and gave the company an “overweight” rating in a report on Friday. Zacks Investment Research downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Credit Suisse Group set a $33.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a report on Friday, November 24th. Finally, Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a report on Thursday. 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 company. Hormel Foods presently has an average rating of “Hold” and an average price target of $35.50.

A number of institutional investors have recently bought and sold shares of HRL. Louisiana State Employees Retirement System raised its position in Hormel Foods by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock worth $570,000 after purchasing an additional 100 shares during the period. Russell Investments Group Ltd. increased its position in shares of Hormel Foods by 18.4% during the second quarter. Russell Investments Group Ltd. now owns 162,808 shares of the company’s stock worth $5,553,000 after acquiring an additional 25,319 shares during the period. ING Groep NV increased its position in shares of Hormel Foods by 0.4% during the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock worth $471,000 after acquiring an additional 53 shares during the period. Shell Asset Management Co. increased its position in shares of Hormel Foods by 4.1% during the second quarter. Shell Asset Management Co. now owns 40,249 shares of the company’s stock worth $1,373,000 after acquiring an additional 1,582 shares during the period. Finally, Strs Ohio increased its position in shares of Hormel Foods by 26.4% during the second quarter. Strs Ohio now owns 38,858 shares of the company’s stock worth $1,325,000 after acquiring an additional 8,112 shares during the period. 38.33% of the stock is currently owned by institutional investors.

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About Hormel Foods

Insider Buying and Selling by Quarter for Hormel Foods (NYSE:HRL)

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