Hormel Foods Corp (NYSE:HRL) insider Larry L. Vorpahl sold 180,000 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $44.47, for a total value of $8,004,600.00. Following the transaction, the insider now owns 280,194 shares in the company, valued at approximately $12,460,227.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Hormel Foods stock traded down $0.23 during midday trading on Tuesday, hitting $43.55. The stock had a trading volume of 42,507 shares, compared to its average volume of 2,264,383. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. The firm has a market cap of $23.29 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.94 and a beta of 0.19. Hormel Foods Corp has a 12 month low of $33.23 and a 12 month high of $46.26.
Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, February 21st. The company reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. Hormel Foods’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Hormel Foods Corp will post 1.83 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Enlightenment Research LLC acquired a new stake in Hormel Foods in the fourth quarter worth approximately $30,000. Acima Private Wealth LLC acquired a new position in Hormel Foods in the 4th quarter valued at approximately $34,000. Bremer Trust National Association acquired a new position in Hormel Foods in the 4th quarter valued at approximately $43,000. We Are One Seven LLC acquired a new position in Hormel Foods in the 4th quarter valued at approximately $45,000. Finally, FTB Advisors Inc. increased its position in Hormel Foods by 62.7% in the 4th quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock valued at $48,000 after acquiring an additional 433 shares during the period. Institutional investors and hedge funds own 43.46% of the company’s stock.
HRL has been the topic of a number of analyst reports. Zacks Investment Research lowered Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Credit Suisse Group reaffirmed a “hold” rating and set a $39.00 target price on shares of Hormel Foods in a research report on Thursday, February 21st. Stephens initiated coverage on Hormel Foods in a research report on Monday, March 4th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $44.00 target price on shares of Hormel Foods in a research report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $41.33.
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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