Hormel Foods Corp. (NYSE:HRL) insider Steven G. Binder sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $37.98, for a total transaction of $455,760.00. Following the transaction, the insider now directly owns 41,622 shares of the company’s stock, valued at approximately $1,580,803.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Hormel Foods Corp. (NYSE:HRL) opened at 38.05 on Friday. The stock has a market cap of $20.14 billion, a PE ratio of 24.71 and a beta of 0.57. Hormel Foods Corp. has a 52 week low of $32.42 and a 52 week high of $45.72. The stock has a 50 day moving average of $37.56 and a 200-day moving average of $37.48.

Hormel Foods Corp. (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the business earned $0.28 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that Hormel Foods Corp. will post $1.63 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Hormel Foods Corp. (NYSE:HRL)

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, October 20th. Hormel Foods Corp.’s payout ratio is 37.79%.

A number of large investors have recently added to or reduced their stakes in HRL. Checchi Capital Advisers LLC boosted its stake in Hormel Foods Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,762 shares of the company’s stock worth $101,000 after buying an additional 100 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Hormel Foods Corp. by 0.6% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 15,500 shares of the company’s stock worth $567,000 after buying an additional 100 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Hormel Foods Corp. by 1.9% in the second quarter. Pacer Advisors Inc. now owns 5,478 shares of the company’s stock worth $200,000 after buying an additional 103 shares during the last quarter. CLS Investments LLC boosted its stake in Hormel Foods Corp. by 0.6% in the second quarter. CLS Investments LLC now owns 25,037 shares of the company’s stock worth $916,000 after buying an additional 154 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Hormel Foods Corp. by 2.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,363 shares of the company’s stock worth $243,000 after buying an additional 165 shares during the last quarter. Institutional investors own 34.09% of the company’s stock.

Several brokerages recently commented on HRL. Jefferies Group reaffirmed a “hold” rating on shares of Hormel Foods Corp. in a research note on Wednesday, August 3rd. Vetr cut shares of Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price objective for the company. in a research note on Monday. Deutsche Bank AG reaffirmed a “hold” rating and set a $38.00 price objective on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Finally, Zacks Investment Research raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.10.

Hormel Foods Corp. Company Profile

5 Day Chart for NYSE:HRL

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