Hormel Foods Corp (HRL) Director Terrell K. Crews Sells 7,987 Shares of Stock
Hormel Foods Corp (NYSE:HRL) Director Terrell K. Crews sold 7,987 shares of Hormel Foods stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $36.50, for a total value of $291,525.50. Following the sale, the director now directly owns 100,569 shares in the company, valued at approximately $3,670,768.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Hormel Foods Corp (NYSE:HRL) traded up $0.31 on Friday, hitting $36.77. The stock had a trading volume of 3,320,000 shares, compared to its average volume of 3,040,000. Hormel Foods Corp has a 12 month low of $29.75 and a 12 month high of $37.97. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. The company has a market cap of $19,580.00, a P/E ratio of 23.07, a PEG ratio of 2.35 and a beta of 0.59.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. research analysts expect that Hormel Foods Corp will post 1.67 earnings per share for the current fiscal year.
Several analysts have weighed in on HRL shares. BidaskClub downgraded Hormel Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Hormel Foods from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Credit Suisse Group downgraded Hormel Foods from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $39.00 to $33.00 in a research note on Friday, August 25th. Buckingham Research dropped their price objective on Hormel Foods from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 25th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Hormel Foods in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Hormel Foods currently has an average rating of “Hold” and an average target price of $35.50.
Several institutional investors have recently made changes to their positions in the company. Smith Shellnut Wilson LLC ADV raised its position in shares of Hormel Foods by 88.3% during the third quarter. Smith Shellnut Wilson LLC ADV now owns 11,985 shares of the company’s stock worth $385,000 after purchasing an additional 5,621 shares during the period. Americafirst Capital Management LLC acquired a new stake in shares of Hormel Foods during the third quarter worth $649,000. Belpointe Asset Management LLC acquired a new stake in shares of Hormel Foods during the third quarter worth $383,000. IFM Investors Pty Ltd acquired a new stake in shares of Hormel Foods during the third quarter worth $271,000. Finally, Independent Advisor Alliance raised its position in shares of Hormel Foods by 12.4% during the third quarter. Independent Advisor Alliance now owns 20,737 shares of the company’s stock worth $648,000 after purchasing an additional 2,281 shares during the period. 38.33% of the stock is currently owned by institutional investors.
About Hormel Foods
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