Hormel Foods Corporation (NYSE:HRL) VP James N. Sheehan sold 35,704 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at $1,852,200. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Hormel Foods Corporation (NYSE HRL) opened at 30.92 on Friday. Hormel Foods Corporation has a 1-year low of $30.59 and a 1-year high of $38.84. The firm has a 50-day moving average of $33.28 and a 200 day moving average of $34.27. The stock has a market capitalization of $16.33 billion, a PE ratio of 19.09 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. Analysts predict that Hormel Foods Corporation will post $1.57 EPS for the current year.

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A number of equities research analysts have issued reports on HRL shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $38.00 price objective (down from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. BidaskClub raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. Credit Suisse Group downgraded shares of Hormel Foods Corporation from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $39.00 to $33.00 in a research report on Friday, August 25th. Finally, Buckingham Research reduced their target price on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, August 25th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Hormel Foods Corporation currently has a consensus rating of “Hold” and a consensus target price of $38.36.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Hormel Foods Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock worth $1,059,004,000 after buying an additional 777,942 shares during the last quarter. State Street Corp raised its position in Hormel Foods Corporation by 0.4% in the second quarter. State Street Corp now owns 30,226,307 shares of the company’s stock worth $1,031,019,000 after buying an additional 132,262 shares during the last quarter. BlackRock Inc. raised its position in Hormel Foods Corporation by 2.3% in the second quarter. BlackRock Inc. now owns 19,429,152 shares of the company’s stock worth $662,728,000 after buying an additional 437,716 shares during the last quarter. Capital International Investors raised its position in Hormel Foods Corporation by 16.8% in the second quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock worth $282,600,000 after buying an additional 1,191,000 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Hormel Foods Corporation by 3.3% in the second quarter. APG Asset Management N.V. now owns 5,165,938 shares of the company’s stock worth $176,210,000 after buying an additional 162,900 shares during the last quarter. Institutional investors and hedge funds own 38.90% of the company’s stock.

About Hormel Foods Corporation

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

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