Hormel Foods Corp (NYSE:HRL) Director Terrell K. Crews sold 6,630 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $42.07, for a total transaction of $278,924.10. Following the completion of the sale, the director now directly owns 106,027 shares in the company, valued at approximately $4,460,555.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of HRL stock traded up $0.01 during trading hours on Friday, reaching $39.69. 2,322,575 shares of the company were exchanged, compared to its average volume of 2,656,172. Hormel Foods Corp has a fifty-two week low of $29.75 and a fifty-two week high of $42.29. The firm has a market capitalization of $21.00 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.69 and a beta of 0.34. The company has a current ratio of 1.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the business earned $0.34 earnings per share. Hormel Foods’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Hormel Foods Corp will post 1.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 22nd will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $0.75 annualized dividend and a yield of 1.89%. Hormel Foods’s dividend payout ratio is currently 47.77%.

A number of hedge funds and other institutional investors have recently made changes to their positions in HRL. Mackay Shields LLC acquired a new position in Hormel Foods in the first quarter valued at approximately $1,555,000. Robeco Institutional Asset Management B.V. lifted its holdings in Hormel Foods by 362.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 30,373 shares of the company’s stock valued at $1,043,000 after buying an additional 23,807 shares during the period. American International Group Inc. lifted its holdings in Hormel Foods by 20.3% in the first quarter. American International Group Inc. now owns 123,340 shares of the company’s stock valued at $4,233,000 after buying an additional 20,847 shares during the period. Aperio Group LLC lifted its holdings in Hormel Foods by 10.3% in the first quarter. Aperio Group LLC now owns 349,530 shares of the company’s stock valued at $11,996,000 after buying an additional 32,675 shares during the period. Finally, Korea Investment CORP increased its stake in Hormel Foods by 21,782.9% in the first quarter. Korea Investment CORP now owns 56,458 shares of the company’s stock valued at $1,938,000 after purchasing an additional 56,200 shares in the last quarter. Institutional investors and hedge funds own 41.83% of the company’s stock.

A number of equities analysts have commented on HRL shares. ValuEngine upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Jefferies Financial Group restated a “buy” rating and issued a $44.00 price target on shares of Hormel Foods in a research report on Wednesday, August 29th. Stephens lowered shares of Hormel Foods from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Barclays lowered shares of Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price target on the stock. in a research report on Friday, August 24th. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.27.

About Hormel Foods

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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