Dakota A. Pippins Sells 4,000 Shares of Hormel Foods Corporation (HRL) Stock
Hormel Foods Corporation (NYSE:HRL) Director Dakota A. Pippins sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $31.60, for a total transaction of $126,400.00. Following the completion of the transaction, the director now directly owns 92,377 shares in the company, valued at approximately $2,919,113.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Hormel Foods Corporation (NYSE HRL) opened at 31.33 on Thursday. The firm has a market capitalization of $16.54 billion, a PE ratio of 19.34 and a beta of 0.58. The company has a 50-day moving average of $32.99 and a 200-day moving average of $33.99. Hormel Foods Corporation has a 1-year low of $30.50 and a 1-year high of $38.84.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. Equities research analysts predict that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.
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A number of research analysts have commented on HRL shares. Credit Suisse Group cut their target price on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 26th. Zacks Investment Research downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Monday, May 29th. Barclays PLC started coverage on shares of Hormel Foods Corporation in a research report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price on the stock. Mizuho started coverage on shares of Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Jefferies Group LLC reissued a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.36.
Several hedge funds and other institutional investors have recently modified their holdings of HRL. Acrospire Investment Management LLC acquired a new stake in Hormel Foods Corporation in the second quarter valued at $111,000. BB&T Investment Services Inc. acquired a new position in shares of Hormel Foods Corporation during the 2nd quarter worth $118,000. Canada Pension Plan Investment Board raised its stake in shares of Hormel Foods Corporation by 230.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock worth $132,000 after buying an additional 2,664 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Hormel Foods Corporation by 20.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock worth $148,000 after buying an additional 718 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Hormel Foods Corporation by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock worth $152,000 after buying an additional 295 shares during the last quarter. 38.91% of the stock is owned by hedge funds and other institutional investors.
About Hormel Foods Corporation
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