Thomas R. Day Sells 48,596 Shares of Hormel Foods Corp (HRL) Stock

Hormel Foods Corp (NYSE:HRL) EVP Thomas R. Day sold 48,596 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $45.54, for a total transaction of $2,213,061.84. Following the sale, the executive vice president now owns 93,132 shares of the company’s stock, valued at $4,241,231.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of HRL stock traded down $0.47 on Friday, hitting $44.47. The stock had a trading volume of 99,213 shares, compared to its average volume of 3,201,304. The company has a market capitalization of $23.94 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.94 and a beta of 0.13. The company has a current ratio of 1.80, a quick ratio of 0.95 and a debt-to-equity ratio of 0.11. Hormel Foods Corp has a 52-week low of $31.71 and a 52-week high of $46.26.

Hormel Foods (NYSE:HRL) last announced its 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. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Hormel Foods had a net margin of 10.60% and a return on equity of 18.01%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities research analysts predict that Hormel Foods Corp will post 1.83 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Monday, January 14th will be paid a $0.21 dividend. The ex-dividend date is Friday, January 11th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Hormel Foods’s dividend payout ratio is 39.68%.

HRL has been the subject of several research reports. Jefferies Financial Group reiterated a “buy” rating and set a $44.00 price objective on shares of Hormel Foods in a research note on Wednesday, August 29th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. JPMorgan Chase & Co. initiated coverage on shares of Hormel Foods in a research note on Friday, September 28th. They set a “neutral” rating and a $41.00 price objective for the company. Buckingham Research boosted their price objective on shares of Hormel Foods from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Finally, Vertical Group downgraded shares of Hormel Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Hormel Foods currently has a consensus rating of “Hold” and an average target price of $40.56.

Several hedge funds have recently made changes to their positions in HRL. Sapphire Star Partners LP purchased a new position in shares of Hormel Foods in the third quarter valued at $102,000. Piedmont Investment Advisors LLC purchased a new position in shares of Hormel Foods in the second quarter valued at $118,000. Fort L.P. acquired a new stake in Hormel Foods in the second quarter valued at $125,000. Dupont Capital Management Corp acquired a new stake in Hormel Foods in the second quarter valued at $135,000. Finally, Moody National Bank Trust Division acquired a new stake in Hormel Foods in the third quarter valued at $142,000. Institutional investors and hedge funds own 42.28% of the company’s stock.

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Hormel Foods Company Profile

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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