Insider Selling: Hormel Foods Corp (HRL) Director Sells 7,129 Shares of Stock

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.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s payout ratio is currently 43.31%.

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

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