Trade Report: The Hormel Foods Corp. (HRL) Insider Sold $455,760.00 in Stock

The Hormel Foods Corp. (HRL) Insider Sold $455,760.00 in Stock

Hormel Foods Corp. (NYSE:HRL) insider Steven G. Binder sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $37.98, for a total transaction of $455,760.00. Following the sale, the insider now owns 41,622 shares in the company, valued at approximately $1,580,803.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hormel Foods Corp. (NYSE:HRL) opened at 38.05 on Friday. Hormel Foods Corp. has a 12-month low of $32.42 and a 12-month high of $45.72. The company has a 50 day moving average of $37.56 and a 200-day moving average of $37.48. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 24.71 and a beta of 0.57.

Hormel Foods Corp. (NYSE:HRL) last issued its earnings results on Thursday, August 18th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. Hormel Foods Corp.’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, equities research analysts forecast that Hormel Foods Corp. will post $1.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be given a $0.145 dividend. The ex-dividend date is Thursday, October 20th. This represents a $0.58 dividend on an annualized basis and a yield of 1.52%. Hormel Foods Corp.’s dividend payout ratio is currently 37.79%.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Hormel Foods Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,503,290 shares of the company’s stock worth $1,006,620,000 after buying an additional 477,355 shares in the last quarter. State Street Corp raised its stake in Hormel Foods Corp. by 0.8% in the second quarter. State Street Corp now owns 14,725,146 shares of the company’s stock valued at $538,944,000 after buying an additional 109,675 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Hormel Foods Corp. by 73.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,305,830 shares of the company’s stock valued at $315,904,000 after buying an additional 3,100,653 shares in the last quarter. Janus Capital Management LLC raised its stake in Hormel Foods Corp. by 29.0% in the second quarter. Janus Capital Management LLC now owns 5,179,159 shares of the company’s stock valued at $189,557,000 after buying an additional 1,163,942 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in Hormel Foods Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 4,834,016 shares of the company’s stock valued at $176,925,000 after buying an additional 233,925 shares in the last quarter. Hedge funds and other institutional investors own 34.09% of the company’s stock.

A number of research firms have commented on HRL. Jefferies Group restated a “hold” rating on shares of Hormel Foods Corp. in a research note on Wednesday, August 3rd. Vetr cut shares of Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price on the stock. in a research note on Monday. Deutsche Bank AG restated a “hold” rating and set a $38.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Edward Jones upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Finally, Zacks Investment Research upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.10.

Hormel Foods Corp. Company Profile

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