Insider Selling: Hormel Foods Corp (HRL) VP Sells 8,000 Shares of Stock

Hormel Foods Corp (NYSE:HRL) VP Gary Jamison sold 8,000 shares of Hormel Foods stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $44.37, for a total value of $354,960.00. Following the completion of the sale, the vice president now directly owns 15,991 shares of the company’s stock, valued at $709,520.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Hormel Foods stock traded down $0.33 on Friday, hitting $40.39. The stock had a trading volume of 4,197,261 shares, compared to its average volume of 2,618,724. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 2.66 and a beta of 0.19. Hormel Foods Corp has a twelve month low of $34.12 and a twelve month high of $46.26.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 21st. The company reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts predict that Hormel Foods Corp will post 1.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.21 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.08%. Hormel Foods’s payout ratio is 44.44%.

A number of hedge funds and other institutional investors have recently bought and sold shares of HRL. Wells Fargo & Company MN grew its stake in shares of Hormel Foods by 8.6% in the 3rd quarter. Wells Fargo & Company MN now owns 586,252 shares of the company’s stock valued at $23,097,000 after buying an additional 46,634 shares during the period. AXA bought a new position in Hormel Foods in the 3rd quarter valued at about $3,373,000. Janus Henderson Group PLC lifted its position in Hormel Foods by 485.2% in the 3rd quarter. Janus Henderson Group PLC now owns 632,124 shares of the company’s stock valued at $24,905,000 after acquiring an additional 524,110 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Hormel Foods by 2.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 176,769 shares of the company’s stock worth $6,964,000 after buying an additional 4,680 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Hormel Foods by 5.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 82,023 shares of the company’s stock worth $3,232,000 after buying an additional 4,364 shares in the last quarter. Institutional investors and hedge funds own 43.49% of the company’s stock.

Several analysts recently issued reports on HRL shares. ValuEngine lowered Hormel Foods from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Zacks Investment Research lowered Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Credit Suisse Group reissued a “hold” rating and set a $39.00 price target on shares of Hormel Foods in a research report on Thursday, February 21st. Stephens initiated coverage on Hormel Foods in a research report on Monday, March 4th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and set a $44.00 price target on shares of Hormel Foods in a research report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $41.33.

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Hormel Foods Company Profile

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

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