Hormel Foods Co. (NYSE:HRL) EVP Deanna T. Brady Sells 51,600 Shares

Hormel Foods Co. (NYSE:HRL) EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the completion of the transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Hormel Foods Stock Down 0.5 %

HRL stock opened at $32.37 on Wednesday. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $39.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 3.10 and a beta of 0.25. The business’s fifty day moving average price is $31.96 and its two-hundred day moving average price is $32.96.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Institutional Investors Weigh In On Hormel Foods

A number of large investors have recently added to or reduced their stakes in HRL. Dimensional Fund Advisors LP raised its holdings in Hormel Foods by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,450,447 shares of the company’s stock valued at $78,679,000 after acquiring an additional 56,189 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Hormel Foods by 30.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 19,683 shares of the company’s stock worth $632,000 after purchasing an additional 4,594 shares during the period. Brown Advisory Inc. raised its stake in Hormel Foods by 5.9% in the fourth quarter. Brown Advisory Inc. now owns 24,067 shares of the company’s stock valued at $773,000 after purchasing an additional 1,340 shares in the last quarter. Kentucky Retirement Systems lifted its position in Hormel Foods by 2.1% during the fourth quarter. Kentucky Retirement Systems now owns 23,174 shares of the company’s stock worth $744,000 after purchasing an additional 470 shares during the period. Finally, ING Groep NV grew its stake in Hormel Foods by 9.1% during the fourth quarter. ING Groep NV now owns 39,652 shares of the company’s stock worth $1,273,000 after buying an additional 3,305 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stephens reiterated an “equal weight” rating and set a $32.00 price target on shares of Hormel Foods in a report on Friday, May 31st. JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $29.00 in a report on Friday, May 31st. Finally, Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $37.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.33.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.