Hormel Foods Corp (NYSE:HRL) Director Glenn S. Forbes sold 4,492 shares of Hormel Foods stock in a transaction on Friday, March 9th. The shares were sold at an average price of $33.71, for a total value of $151,425.32. Following the completion of the sale, the director now directly owns 50,326 shares of the company’s stock, valued at $1,696,489.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Hormel Foods Corp (HRL) opened at $34.03 on Wednesday. Hormel Foods Corp has a one year low of $29.75 and a one year high of $38.00. The company has a market capitalization of $17,847.01, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.98 and a beta of 0.53. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12.
Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 22nd. The company reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Hormel Foods had a return on equity of 17.44% and a net margin of 9.92%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm posted $0.44 EPS. Hormel Foods’s revenue for the quarter was up 2.1% on a year-over-year basis. analysts anticipate that Hormel Foods Corp will post 1.82 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group set a $33.00 price objective on Hormel Foods and gave the company a “hold” rating in a research note on Friday, November 24th. Jefferies Group set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research raised Hormel Foods from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Tuesday, February 27th. Mizuho set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a research note on Saturday, November 25th. Finally, Barclays set a $40.00 price objective on Hormel Foods and gave the company an “overweight” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Hormel Foods presently has an average rating of “Hold” and an average target price of $34.60.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Hormel Foods by 1.8% during the 4th quarter. BlackRock Inc. now owns 20,327,330 shares of the company’s stock worth $739,714,000 after acquiring an additional 367,255 shares in the last quarter. US Bancorp DE boosted its position in shares of Hormel Foods by 33.2% during the 4th quarter. US Bancorp DE now owns 2,046,311 shares of the company’s stock worth $74,466,000 after acquiring an additional 510,148 shares in the last quarter. Lowe Brockenbrough & Co. Inc. boosted its position in shares of Hormel Foods by 37.3% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 43,300 shares of the company’s stock worth $1,392,000 after acquiring an additional 11,760 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its position in shares of Hormel Foods by 14.0% during the 4th quarter. Honkamp Krueger Financial Services Inc. now owns 15,367 shares of the company’s stock worth $559,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Hormel Foods by 22.4% during the 3rd quarter. Janus Henderson Group PLC now owns 96,647 shares of the company’s stock worth $3,107,000 after acquiring an additional 17,709 shares in the last quarter. 39.40% of the stock is owned by hedge funds and other institutional investors.
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About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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