Brian Dean Johnson Sells 3,500 Shares of Hormel Foods Corp. (HRL) Stock
Hormel Foods Corp. (NYSE:HRL) VP Brian Dean Johnson sold 3,500 shares of Hormel Foods Corp. stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $38.00, for a total transaction of $133,000.00. Following the completion of the transaction, the vice president now directly owns 26,119 shares in the company, valued at $992,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Hormel Foods Corp. (NYSE:HRL) opened at 37.88 on Friday. Hormel Foods Corp. has a 12 month low of $31.20 and a 12 month high of $45.72. The firm has a market cap of $20.05 billion, a P/E ratio of 24.60 and a beta of 0.56. The firm has a 50 day moving average of $37.53 and a 200-day moving average of $37.87.
Hormel Foods Corp. (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business earned $0.28 EPS. The company’s revenue was up 5.2% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be issued a $0.145 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.53%. Hormel Foods Corp.’s payout ratio is 37.79%.
HRL has been the topic of a number of research analyst reports. Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Jefferies Group boosted their price objective on shares of Hormel Foods Corp. from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, July 27th. BMO Capital Markets raised shares of Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Friday, August 19th. Credit Suisse Group AG raised shares of Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $38.00 to $43.00 in a report on Monday, August 22nd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $38.00 price objective on shares of Hormel Foods Corp. in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Hormel Foods Corp. currently has an average rating of “Hold” and an average target price of $40.10.
Large investors have recently made changes to their positions in the stock. CLS Investments LLC increased its position in Hormel Foods Corp. by 98.8% in the first quarter. CLS Investments LLC now owns 24,883 shares of the company’s stock worth $1,076,000 after buying an additional 12,365 shares during the period. Prudential Financial Inc. increased its position in Hormel Foods Corp. by 97.7% in the first quarter. Prudential Financial Inc. now owns 358,382 shares of the company’s stock worth $15,497,000 after buying an additional 177,126 shares during the period. Teachers Advisors Inc. increased its position in Hormel Foods Corp. by 160.8% in the first quarter. Teachers Advisors Inc. now owns 444,129 shares of the company’s stock worth $19,204,000 after buying an additional 273,838 shares during the period. TIAA CREF Investment Management LLC increased its position in Hormel Foods Corp. by 92.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,412,524 shares of the company’s stock worth $61,078,000 after buying an additional 677,424 shares during the period. Finally, Pacad Investment Ltd. increased its position in Hormel Foods Corp. by 187.3% in the first quarter. Pacad Investment Ltd. now owns 16,087 shares of the company’s stock worth $696,000 after buying an additional 10,487 shares during the period. Institutional investors and hedge funds own 34.10% of the company’s stock.
About Hormel Foods Corp.
Receive News & Stock Ratings for Hormel Foods Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp. and related stocks with our FREE daily email newsletter.