Hormel Foods Corp (NYSE:HRL) Director Susan K. Nestegard sold 4,517 shares of the firm’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $45.52, for a total value of $205,613.84. Following the transaction, the director now directly owns 84,903 shares of the company’s stock, valued at approximately $3,864,784.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE:HRL traded up $0.02 on Thursday, hitting $44.93. 446,434 shares of the company traded hands, compared to its average volume of 3,340,876. Hormel Foods Corp has a 52 week low of $31.71 and a 52 week high of $46.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.80 and a quick ratio of 0.95. The company has a market capitalization of $23.94 billion, a PE ratio of 23.77, a PEG ratio of 2.94 and a beta of 0.13.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 20th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Hormel Foods had a return on equity of 18.01% and a net margin of 10.60%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the company earned $0.41 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Hormel Foods Corp will post 1.84 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Hormel Foods by 1.3% during the third quarter. Vanguard Group Inc. now owns 32,167,606 shares of the company’s stock valued at $1,267,403,000 after acquiring an additional 410,107 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Hormel Foods by 3.8% during the third quarter. Legal & General Group Plc now owns 1,425,942 shares of the company’s stock valued at $56,182,000 after acquiring an additional 51,924 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Hormel Foods by 15.6% during the third quarter. Standard Life Aberdeen plc now owns 83,910 shares of the company’s stock valued at $3,306,000 after acquiring an additional 11,339 shares in the last quarter. B. Riley Wealth Management Inc. bought a new position in shares of Hormel Foods during the third quarter valued at $423,000. Finally, Kentucky Retirement Systems bought a new position in shares of Hormel Foods during the third quarter valued at $502,000. Hedge funds and other institutional investors own 42.28% of the company’s stock.
Several brokerages have commented on HRL. Credit Suisse Group set a $39.00 price objective on Hormel Foods and gave the company a “hold” rating in a research report on Wednesday, November 21st. BMO Capital Markets lowered Hormel Foods from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $38.00 to $44.00 in a research report on Monday, September 17th. They noted that the move was a valuation call. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Buckingham Research raised their price objective on Hormel Foods from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, August 16th. Finally, ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and a consensus target price of $40.56.
WARNING: “Hormel Foods Corp (HRL) Director Sells $205,613.84 in Stock” was originally published by WKRB News and is the property of of WKRB News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.wkrb13.com/2018/12/06/hormel-foods-corp-hrl-director-sells-205613-84-in-stock.html.
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.
Featured Story: How to interpret a stock’s beta number
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.