Mark A. Coffey Sells 15,400 Shares of Hormel Foods Co. (NYSE:HRL) Stock

Hormel Foods Co. (NYSE:HRL) VP Mark A. Coffey sold 15,400 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the sale, the vice president now owns 68,029 shares in the company, valued at $2,381,015. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hormel Foods Stock Performance

HRL stock opened at $35.24 on Wednesday. Hormel Foods Co. has a one year low of $28.51 and a one year high of $41.73. The firm has a 50-day simple moving average of $31.99 and a two-hundred day simple moving average of $32.77. 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 firm has a market cap of $19.30 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.38 and a beta of 0.27.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts forecast that Hormel Foods Co. will post 1.58 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, March 25th will be paid a dividend of $0.2825 per share. The ex-dividend date is Friday, April 12th. This represents a $1.13 annualized dividend and a dividend yield of 3.21%. Hormel Foods’s payout ratio is currently 77.40%.

Institutional Investors Weigh In On Hormel Foods

A number of large investors have recently made changes to their positions in the stock. Janiczek Wealth Management LLC lifted its position in Hormel Foods by 62.9% during the 3rd quarter. Janiczek Wealth Management LLC now owns 1,028 shares of the company’s stock worth $39,000 after acquiring an additional 397 shares during the period. Point72 Hong Kong Ltd acquired a new position in Hormel Foods in the 1st quarter worth approximately $41,000. Clarity Asset Management Inc. purchased a new position in Hormel Foods during the 4th quarter worth approximately $54,000. Federated Hermes Inc. raised its holdings in shares of Hormel Foods by 21.1% during the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after purchasing an additional 361 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its position in Hormel Foods by 387.0% during the first quarter. Dark Forest Capital Management LP now owns 1,841 shares of the company’s stock valued at $73,000 after purchasing an additional 1,463 shares during the period. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on HRL shares. Piper Sandler boosted their price objective on shares of Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. JPMorgan Chase & Co. boosted their price target on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Citigroup assumed coverage on Hormel Foods in a research report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target on the stock. Barclays lifted their price objective on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Finally, The Goldman Sachs Group upped their price target on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.00.

About Hormel Foods

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.