Lori J. Marco Sells 11,000 Shares of Hormel Foods Corp (NYSE:HRL) Stock

Hormel Foods Corp (NYSE:HRL) VP Lori J. Marco sold 11,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $45.08, for a total value of $495,880.00. Following the transaction, the vice president now owns 36,178 shares in the company, valued at $1,630,904.24. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of Hormel Foods stock traded down $0.29 during trading hours on Wednesday, hitting $45.25. 2,447,000 shares of the company’s stock traded hands, compared to its average volume of 2,656,821. Hormel Foods Corp has a 12-month low of $37.00 and a 12-month high of $45.78. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 4.21 and a beta of 0.07. The company has a fifty day simple moving average of $42.03 and a 200-day simple moving average of $41.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 1.19.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.51 billion. Hormel Foods had a net margin of 10.31% and a return on equity of 16.14%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. On average, analysts forecast that Hormel Foods Corp will post 1.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be issued a $0.2325 dividend. This represents a $0.93 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, January 10th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.21. Hormel Foods’s payout ratio is 48.28%.

A number of institutional investors have recently bought and sold shares of the stock. MUFG Americas Holdings Corp purchased a new stake in shares of Hormel Foods during the second quarter worth $35,000. TRUE Private Wealth Advisors purchased a new position in shares of Hormel Foods in the second quarter valued at $36,000. Dougherty Wealth Advisers LLC grew its position in shares of Hormel Foods by 350.0% in the second quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. CSat Investment Advisory L.P. grew its position in shares of Hormel Foods by 153.8% in the second quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock valued at $59,000 after purchasing an additional 880 shares in the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of Hormel Foods during the 2nd quarter valued at $73,000. Institutional investors and hedge funds own 43.81% of the company’s stock.

Several analysts have recently commented on HRL shares. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a report on Wednesday, November 27th. Stephens restated a “hold” rating and set a $43.00 price target (up from $37.00) on shares of Hormel Foods in a report on Wednesday, November 27th. Bank of America initiated coverage on shares of Hormel Foods in a research report on Friday, October 25th. They issued an “underperform” rating and a $40.00 price objective for the company. BMO Capital Markets set a $44.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, ValuEngine upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $40.90.

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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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