Insider Selling: Hormel Foods Corp (HRL) Insider Sells 180,000 Shares of Stock

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.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.21 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Hormel Foods’s payout ratio is currently 44.44%.

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.

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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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