Hormel Foods Co. (NYSE:HRL) SVP Sells $327,000.00 in Stock

Hormel Foods Co. (NYSE:HRL) SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the sale, the senior vice president now owns 39,050 shares of the company’s stock, valued at $1,276,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hormel Foods Stock Down 0.8 %

NYSE:HRL traded down $0.27 during trading hours on Thursday, reaching $32.13. The company’s stock had a trading volume of 1,815,471 shares, compared to its average volume of 2,673,708. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 3.10 and a beta of 0.25. Hormel Foods Co. has a one year low of $28.51 and a one year high of $39.58. The business’s 50-day moving average is $32.03 and its 200-day moving average is $32.95.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that Hormel Foods Co. will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Hormel Foods

A number of institutional investors have recently modified their holdings of HRL. Norges Bank bought a new stake in Hormel Foods during the 4th quarter valued at approximately $62,323,000. Goldman Sachs Group Inc. boosted its position in shares of Hormel Foods by 97.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after acquiring an additional 1,434,437 shares during the period. Marshall Wace LLP grew its stake in shares of Hormel Foods by 86.4% in the second quarter. Marshall Wace LLP now owns 1,602,732 shares of the company’s stock worth $48,867,000 after acquiring an additional 742,859 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Hormel Foods by 24.0% during the second 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, ProShare Advisors LLC raised its stake in Hormel Foods by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock valued at $196,729,000 after purchasing an additional 505,942 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $29.00 in a research note on Friday, May 31st. Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. Finally, Stephens restated an “equal weight” rating and issued a $32.00 target price on shares of Hormel Foods in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and an average 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.