Hormel Foods Corp (NYSE:HRL) EVP Thomas R. Day sold 46,213 shares of Hormel Foods stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $49.02, for a total value of $2,265,361.26. Following the completion of the transaction, the executive vice president now directly owns 79,010 shares of the company’s stock, valued at $3,873,070.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE:HRL opened at $41.94 on Thursday. The stock has a market capitalization of $22.75 billion, a P/E ratio of 23.17, a P/E/G ratio of 4.04 and a beta of 0.12. Hormel Foods Corp has a 1-year low of $37.00 and a 1-year high of $51.53. The company has a current ratio of 2.34, a quick ratio of 1.31 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $45.17 and a two-hundred day moving average price of $44.10.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.37 billion. Hormel Foods had a return on equity of 15.90% and a net margin of 10.30%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities analysts predict that Hormel Foods Corp will post 1.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 13th will be issued a dividend of $0.2325 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $0.93 annualized dividend and a yield of 2.22%. Hormel Foods’s dividend payout ratio is currently 53.45%.
A number of research analysts recently issued reports on the company. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 price target for the company in a report on Wednesday, November 27th. ValuEngine cut Hormel Foods from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Stephens reaffirmed a “hold” rating and issued a $43.00 price target (up from $37.00) on shares of Hormel Foods in a report on Wednesday, November 27th. Finally, Cfra raised Hormel Foods from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a report on Monday, March 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $40.44.
A number of large investors have recently made changes to their positions in HRL. Vigilant Capital Management LLC bought a new stake in Hormel Foods during the 4th quarter worth about $41,000. MBM Wealth Consultants LLC bought a new stake in Hormel Foods during the 4th quarter worth about $45,000. Robecosam AG increased its stake in shares of Hormel Foods by 25.2% in the 4th quarter. Robecosam AG now owns 11,747 shares of the company’s stock valued at $45,000 after acquiring an additional 2,365 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Hormel Foods by 39.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,385 shares of the company’s stock valued at $62,000 after acquiring an additional 390 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its stake in shares of Hormel Foods by 53.6% in the 4th quarter. Enterprise Financial Services Corp now owns 1,619 shares of the company’s stock valued at $73,000 after acquiring an additional 565 shares during the last quarter. 45.09% of the stock is owned by hedge funds and other institutional investors.
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, 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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