Hormel Foods Corp (NYSE:HRL) Director Robert Nakasone sold 16,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $34.40, for a total value of $550,400.00. Following the completion of the transaction, the director now directly owns 125,616 shares in the company, valued at approximately $4,321,190.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hormel Foods Corp (NYSE HRL) traded up $0.31 during mid-day trading 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. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. Hormel Foods Corp has a one year low of $29.75 and a one year high of $37.97. The firm has a market cap of $19,580.00, a P/E ratio of 23.07, a P/E/G ratio of 2.35 and a beta of 0.59.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. analysts predict that Hormel Foods Corp will post 1.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is currently 43.31%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Hormel Foods by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock valued at $1,059,004,000 after buying an additional 777,942 shares in the last quarter. State Street Corp increased its position in shares of Hormel Foods by 0.4% in the 2nd quarter. State Street Corp now owns 30,226,307 shares of the company’s stock valued at $1,031,019,000 after buying an additional 132,262 shares in the last quarter. BlackRock Inc. increased its position in shares of Hormel Foods by 2.3% in the 2nd quarter. BlackRock Inc. now owns 19,429,152 shares of the company’s stock valued at $662,728,000 after buying an additional 437,716 shares in the last quarter. Capital International Investors increased its position in shares of Hormel Foods by 28.4% in the 3rd quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock valued at $341,808,000 after buying an additional 2,350,000 shares in the last quarter. Finally, Valueinvest Asset Management S.A. increased its position in shares of Hormel Foods by 29.2% in the 3rd quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock valued at $222,264,000 after buying an additional 1,563,700 shares in the last quarter. Institutional investors and hedge funds own 38.33% of the company’s stock.

A number of research analysts have recently weighed in on HRL shares. Morgan Stanley started coverage on Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price target on the stock. BMO Capital Markets reissued a “buy” rating and issued a $38.00 price target on shares of Hormel Foods in a research note on Monday, November 6th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Mizuho reissued a “hold” rating and issued a $33.00 price target on shares of Hormel Foods in a research note on Wednesday, October 4th. Finally, Credit Suisse Group dropped coverage on Hormel Foods in a research note on Saturday, August 26th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Hormel Foods currently has an average rating of “Hold” and a consensus target price of $35.50.

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Hormel Foods Company Profile

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

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