Hormel Foods Corp (NYSE:HRL) Director Elsa A. Murano sold 7,129 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $36.00, for a total transaction of $256,644.00. Following the completion of the sale, the director now owns 90,991 shares of the company’s stock, valued at approximately $3,275,676. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Hormel Foods Corp (NYSE:HRL) traded up $0.03 on Friday, reaching $36.48. 787,532 shares of the company’s stock were exchanged, compared to its average volume of 3,572,000. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. Hormel Foods Corp has a 1 year low of $29.75 and a 1 year high of $38.00. The company has a market capitalization of $19,250.00, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.32 and a beta of 0.65.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. research analysts forecast that Hormel Foods Corp will post 1.67 EPS for the current year.
HRL has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Stephens reduced their price objective on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, October 19th. Morgan Stanley initiated coverage on shares of Hormel Foods in a research note on Friday, November 3rd. They set an “underweight” rating and a $26.00 price objective on the stock. Jefferies Group set a $34.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Sunday, October 29th. Finally, Credit Suisse Group set a $33.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Friday, November 24th. 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 currently has a consensus rating of “Hold” and a consensus target price of $35.70.
Several hedge funds have recently made changes to their positions in HRL. Schwab Charles Investment Management Inc. lifted its position in shares of Hormel Foods by 8.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 890,791 shares of the company’s stock worth $30,385,000 after purchasing an additional 68,007 shares in the last quarter. Federated Investors Inc. PA bought a new stake in shares of Hormel Foods in the second quarter worth $236,000. Victory Capital Management Inc. increased its holdings in Hormel Foods by 17.0% during the second quarter. Victory Capital Management Inc. now owns 120,371 shares of the company’s stock worth $4,105,000 after buying an additional 17,486 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Hormel Foods by 8.3% during the second quarter. Pacer Advisors Inc. now owns 6,054 shares of the company’s stock worth $207,000 after buying an additional 464 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Hormel Foods by 1.9% during the second quarter. Neuberger Berman Group LLC now owns 50,682 shares of the company’s stock worth $1,729,000 after buying an additional 936 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.
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