Insider Selling: Hormel Foods Corp (HRL) VP Sells $152,085.12 in Stock

Hormel Foods Corp (NYSE:HRL) VP Gary Jamison sold 4,169 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $36.48, for a total value of $152,085.12. Following the completion of the sale, the vice president now owns 12,615 shares in the company, valued at approximately $460,195.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hormel Foods Corp (NYSE:HRL) opened at $36.77 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $19,408.24, a P/E ratio of 23.27, a P/E/G ratio of 2.37 and a beta of 0.65. Hormel Foods Corp has a 12-month low of $29.75 and a 12-month high of $37.97.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a $0.1875 dividend. The ex-dividend date is Friday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.04%. Hormel Foods’s payout ratio is currently 43.04%.

Several brokerages have recently commented on HRL. BidaskClub upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Credit Suisse Group set a $33.00 price objective on Hormel Foods and gave the company a “hold” rating in a research report on Friday, November 24th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Jefferies Group set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a research report on Sunday, October 29th. Finally, Barclays dropped their price objective on Hormel Foods from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Hormel Foods presently has an average rating of “Hold” and an average price target of $35.50.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Hormel Foods by 2.6% in the second quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock worth $1,059,004,000 after acquiring an additional 777,942 shares during the last quarter. State Street Corp boosted its stake in Hormel Foods by 0.4% during the second quarter. State Street Corp now owns 30,226,307 shares of the company’s stock worth $1,031,019,000 after buying an additional 132,262 shares during the last quarter. BlackRock Inc. boosted its stake in Hormel Foods by 2.3% during the second quarter. BlackRock Inc. now owns 19,429,152 shares of the company’s stock worth $662,728,000 after buying an additional 437,716 shares during the last quarter. Capital International Investors boosted its stake in Hormel Foods by 28.4% during the third quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock worth $341,808,000 after buying an additional 2,350,000 shares during the last quarter. Finally, Valueinvest Asset Management S.A. boosted its stake in Hormel Foods by 29.2% during the third quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock worth $222,264,000 after buying an additional 1,563,700 shares during the last quarter. 38.33% of the stock is currently owned by hedge funds and other institutional investors.

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