Hormel Foods Corp (NYSE:HRL) Director Glenn S. Forbes sold 13,200 shares of Hormel Foods stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $41.56, for a total value of $548,592.00. Following the transaction, the director now directly owns 63,553 shares in the company, valued at approximately $2,641,262.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
HRL stock opened at $41.90 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.78 and a current ratio of 1.69. Hormel Foods Corp has a 1-year low of $29.75 and a 1-year high of $42.29. The firm has a market capitalization of $22.41 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.87 and a beta of 0.34.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 23rd. The company reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. research analysts predict that Hormel Foods Corp will post 1.76 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC bought a new stake in shares of Hormel Foods in the second quarter valued at $118,000. Fort L.P. bought a new stake in shares of Hormel Foods in the second quarter valued at $125,000. IMS Capital Management bought a new stake in shares of Hormel Foods in the second quarter valued at $130,000. Dupont Capital Management Corp bought a new stake in shares of Hormel Foods in the second quarter valued at $135,000. Finally, IBM Retirement Fund bought a new stake in shares of Hormel Foods in the first quarter valued at $203,000. 42.03% of the stock is currently owned by institutional investors and hedge funds.
About Hormel Foods
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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