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 business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the sale, the senior vice president now directly owns 39,050 shares in the company, valued at $1,276,935. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hormel Foods Stock Performance

HRL stock opened at $31.77 on Friday. The firm has a 50 day simple moving average of $32.04 and a 200 day simple moving average of $32.93. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $39.58. The stock has a market cap of $17.42 billion, a P/E ratio of 22.69, a P/E/G ratio of 3.10 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Research analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of Hormel Foods by 7.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 154,437 shares of the company’s stock valued at $4,959,000 after buying an additional 11,026 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of Hormel Foods during the 4th quarter valued at $1,021,000. Nomura Holdings Inc. lifted its stake in shares of Hormel Foods by 4.7% in the 4th quarter. Nomura Holdings Inc. now owns 31,967 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,443 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Hormel Foods in the fourth quarter worth $2,694,000. Finally, First Trust Advisors LP increased its position in Hormel Foods by 8.2% during the fourth quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock worth $82,963,000 after buying an additional 196,460 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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