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.
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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