Robert Nakasone Sells 16,000 Shares of Hormel Foods Corp (HRL) Stock
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.
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.
Hormel Foods Company Profile
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