Insider Selling: Hormel Foods Corp (NYSE:HRL) Insider Sells 5,700 Shares of Stock

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.

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

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

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