Hormel Foods Corp (NYSE:HRL) insider Luis G. Marconi sold 5,700 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $44.06, for a total transaction of $251,142.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
HRL stock traded down $0.33 during mid-day trading on Friday, reaching $40.39. 4,197,261 shares of the stock traded hands, compared to its average volume of 2,618,724. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.77. Hormel Foods Corp has a 52 week low of $34.12 and a 52 week high of $46.26. The stock has a market capitalization of $21.64 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 2.66 and a beta of 0.19.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. Hormel Foods had a net margin of 9.93% and a return on equity of 17.58%. The company 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 business’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Hormel Foods Corp will post 1.82 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dorsey Wright & Associates lifted its stake in shares of Hormel Foods by 4.7% in the first quarter. Dorsey Wright & Associates now owns 71,618 shares of the company’s stock valued at $3,206,000 after buying an additional 3,210 shares during the period. Chesapeake Wealth Management bought a new stake in shares of Hormel Foods in the first quarter valued at about $812,000. Kentucky Retirement Systems lifted its stake in shares of Hormel Foods by 6.7% in the fourth quarter. Kentucky Retirement Systems now owns 11,860 shares of the company’s stock valued at $506,000 after buying an additional 747 shares during the period. Highwater Wealth Management LLC bought a new stake in shares of Hormel Foods in the fourth quarter valued at about $88,000. Finally, Palisade Asset Management LLC lifted its stake in shares of Hormel Foods by 2.4% in the fourth quarter. Palisade Asset Management LLC now owns 315,358 shares of the company’s stock valued at $13,459,000 after buying an additional 7,396 shares during the period. Institutional investors and hedge funds own 43.49% of the company’s stock.
A number of equities research analysts recently issued reports on HRL shares. ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, February 28th. Stephens started coverage on shares of Hormel Foods in a report on Monday, March 4th. They issued an “equal weight” rating for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $44.00 price objective on shares of Hormel Foods in a report on Thursday, February 21st. Finally, Credit Suisse Group restated a “hold” rating and set a $39.00 price target on shares of Hormel Foods in a report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Hormel Foods has a consensus 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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