Kevin L. Myers Sells 10,000 Shares of Hormel Foods Co. (NYSE:HRL) Stock

Hormel Foods Co. (NYSE:HRL) SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total value of $327,000.00. Following the transaction, the senior vice president now directly owns 39,050 shares in the company, valued at approximately $1,276,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hormel Foods Stock Down 1.1 %

Shares of NYSE HRL opened at $31.77 on Friday. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $39.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. The stock has a market cap of $17.42 billion, a P/E ratio of 22.69, a P/E/G ratio of 3.10 and a beta of 0.25. The firm has a 50 day moving average price of $32.04 and a 200 day moving average price of $32.94.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hormel Foods

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 647 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Hormel Foods in the first quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new stake in shares of Hormel Foods during the second quarter worth $34,000. Central Valley Advisors LLC bought a new stake in shares of Hormel Foods during the second quarter worth $37,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Hormel Foods during the first quarter worth $42,000. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Company Profile

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.