Hormel Foods Co. (NYSE:HRL) EVP Deanna T. Brady Sells 51,600 Shares

Hormel Foods Co. (NYSE:HRL) EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the sale, the executive vice president now owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hormel Foods Stock Performance

NYSE:HRL opened at $32.53 on Tuesday. The firm has a market capitalization of $17.84 billion, a PE ratio of 23.24, a PEG ratio of 3.10 and a beta of 0.25. Hormel Foods Co. has a 1 year low of $28.51 and a 1 year high of $39.58. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $31.91 and its 200 day simple moving average is $32.97.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Hormel Foods

Several large investors have recently bought and sold shares of the stock. ProShare Advisors LLC increased its holdings in shares of Hormel Foods by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock worth $196,729,000 after purchasing an additional 505,942 shares during the period. Mairs & Power Inc. increased its stake in Hormel Foods by 2.0% during the fourth quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after acquiring an additional 108,944 shares during the period. Millennium Management LLC raised its holdings in Hormel Foods by 15.4% in the 2nd quarter. Millennium Management LLC now owns 3,089,868 shares of the company’s stock valued at $94,210,000 after acquiring an additional 412,313 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hormel Foods by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock worth $90,738,000 after acquiring an additional 575,378 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Hormel Foods by 97.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock worth $93,151,000 after acquiring an additional 1,434,437 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $28.00 to $29.00 in a research report on Friday, May 31st. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $37.00 in a report on Tuesday, August 13th. Finally, Stephens reiterated an “equal weight” rating and issued a $32.00 price objective on shares of Hormel Foods in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.33.

Hormel Foods Company Profile

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.