Hormel Foods Co. (NYSE:HRL) SVP Sells $349,500.00 in Stock

Hormel Foods Co. (NYSE:HRLGet Free Report) SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hormel Foods Price Performance

Shares of NYSE HRL remained flat at $34.89 during midday trading on Monday. The stock had a trading volume of 754,800 shares, compared to its average volume of 3,236,675. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $41.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.79 and a current ratio of 1.49. The company’s 50 day simple moving average is $31.90 and its two-hundred day simple moving average is $32.83. The company has a market cap of $19.11 billion, a PE ratio of 23.90, a PEG ratio of 3.38 and a beta of 0.27.

Hormel Foods (NYSE:HRLGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the business earned $0.40 EPS. Hormel Foods’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Hormel Foods Co. will post 1.58 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.2825 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.13 dividend on an annualized basis and a yield of 3.24%. Hormel Foods’s dividend payout ratio is presently 77.40%.

Analyst Ratings Changes

HRL has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Citigroup initiated coverage on Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target for the company. Piper Sandler lifted their price target on Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Barclays lifted their price target on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group lifted their price target on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.00.

View Our Latest Research Report on HRL

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HRL. Vanguard Group Inc. lifted its position in Hormel Foods by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 33,500,871 shares of the company’s stock valued at $1,726,636,000 after acquiring an additional 547,495 shares in the last quarter. State Street Corp lifted its holdings in shares of Hormel Foods by 3.7% during the 2nd quarter. State Street Corp now owns 27,868,383 shares of the company’s stock valued at $1,120,866,000 after buying an additional 1,004,133 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Hormel Foods by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 6,310,807 shares of the company’s stock valued at $251,121,000 after buying an additional 144,364 shares during the period. Invesco Ltd. lifted its holdings in shares of Hormel Foods by 2.8% during the 3rd quarter. Invesco Ltd. now owns 6,014,570 shares of the company’s stock valued at $228,734,000 after buying an additional 165,563 shares during the period. Finally, Mairs & Power Inc. lifted its holdings in shares of Hormel Foods by 2.0% during the 4th quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after buying an additional 108,944 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Company Profile

(Get Free Report)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.

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

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