Insider Selling: Hormel Foods Corp (HRL) Director Sells 7,987 Shares of Stock
Hormel Foods Corp (NYSE:HRL) Director Terrell K. Crews sold 7,987 shares of Hormel Foods stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $36.50, for a total transaction of $291,525.50. Following the sale, the director now owns 100,569 shares of the company’s stock, valued at $3,670,768.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Hormel Foods Corp (HRL) traded up $0.32 on Friday, hitting $36.77. 3,316,448 shares of the stock were exchanged, compared to its average volume of 2,405,852. The company has a market cap of $19,410.00, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.24 and a beta of 0.59. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. Hormel Foods Corp has a 1 year low of $29.75 and a 1 year high of $37.97.
Hormel Foods (NYSE:HRL) last announced 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. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. equities research analysts forecast that Hormel Foods Corp will post 1.65 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. MML Investors Services LLC lifted its holdings in shares of Hormel Foods by 101.8% in the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock worth $865,000 after acquiring an additional 12,800 shares during the last quarter. Koch Industries Inc. bought a new stake in Hormel Foods during the 2nd quarter valued at $381,000. CLS Investments LLC raised its holdings in Hormel Foods by 4.7% during the 2nd quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock valued at $1,314,000 after buying an additional 1,723 shares during the last quarter. Cetera Investment Advisers bought a new stake in Hormel Foods during the 2nd quarter valued at $463,000. Finally, Financial Counselors Inc. bought a new stake in Hormel Foods during the 2nd quarter valued at $4,290,000. Hedge funds and other institutional investors own 38.33% of the company’s stock.
Several equities research analysts have issued reports on HRL shares. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group dropped coverage on shares of Hormel Foods in a research report on Saturday, August 26th. They set an “outperform” rating for the company. Stephens dropped their target price on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Morgan Stanley started coverage on shares of Hormel Foods in a research report on Friday, November 3rd. They set an “underweight” rating and a $26.00 target price for the company. Finally, Barclays dropped their target price on shares of Hormel Foods from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Hormel Foods has an average rating of “Hold” and a consensus price target of $35.50.
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