Hormel Foods Corp (NYSE:HRL) Director Dakota A. Pippins sold 1,750 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $39.59, for a total transaction of $69,282.50. Following the transaction, the director now directly owns 91,797 shares in the company, valued at approximately $3,634,243.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NYSE:HRL traded up $0.01 on Friday, reaching $39.69. 2,322,575 shares of the company’s stock were exchanged, compared to its average volume of 2,656,172. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.69 and a quick ratio of 0.78. The firm has a market capitalization of $21.00 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.69 and a beta of 0.34. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $42.29.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.38 billion. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. Analysts expect that Hormel Foods Corp will post 1.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 22nd will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, October 19th. This represents a $0.75 dividend on an annualized basis and a yield of 1.89%. Hormel Foods’s dividend payout ratio (DPR) is presently 47.77%.
A number of large investors have recently modified their holdings of HRL. Kovack Advisors Inc. purchased a new stake in shares of Hormel Foods during the second quarter worth approximately $243,000. State of Alaska Department of Revenue increased its stake in shares of Hormel Foods by 5.8% during the second quarter. State of Alaska Department of Revenue now owns 75,670 shares of the company’s stock worth $2,814,000 after buying an additional 4,120 shares during the period. SG Americas Securities LLC increased its stake in shares of Hormel Foods by 172.1% during the second quarter. SG Americas Securities LLC now owns 100,755 shares of the company’s stock worth $3,749,000 after buying an additional 63,728 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Hormel Foods by 1,190.8% during the second quarter. Glenmede Trust Co. NA now owns 338,397 shares of the company’s stock worth $12,591,000 after buying an additional 312,180 shares during the period. Finally, Wealth & Pension Services Group Inc. purchased a new stake in shares of Hormel Foods during the second quarter worth approximately $953,000. Institutional investors own 41.83% of the company’s stock.
Several research analysts have recently weighed in on HRL shares. Zacks Investment Research cut shares of Hormel Foods from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. started coverage on shares of Hormel Foods in a report on Friday, September 28th. They issued a “neutral” rating and a $41.00 price objective on the stock. ValuEngine upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Buckingham Research boosted their price objective on shares of Hormel Foods from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 16th. Finally, Barclays lowered shares of Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock. in a report on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Hormel Foods currently has an average rating of “Hold” and a consensus target price of $37.27.
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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