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

Hormel Foods Co. (NYSE:HRL) EVP Deanna T. Brady sold 51,600 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 72,421 shares in the company, valued at approximately $2,313,850.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hormel Foods Stock Up 0.1 %

Shares of NYSE:HRL opened at $32.41 on Thursday. The business’s 50 day moving average is $32.00 and its 200 day moving average is $32.96. The stock has a market cap of $17.77 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 3.10 and a beta of 0.25. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $39.58. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts predict that Hormel Foods Co. will post 1.58 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Hormel Foods

Several hedge funds have recently modified their holdings of HRL. PNC Financial Services Group Inc. lifted its holdings in Hormel Foods by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 154,437 shares of the company’s stock worth $4,959,000 after buying an additional 11,026 shares during the period. Focus Financial Network Inc. ADV purchased a new stake in shares of Hormel Foods during the 4th quarter worth $1,021,000. Nomura Holdings Inc. boosted its position in Hormel Foods by 4.7% during the fourth quarter. Nomura Holdings Inc. now owns 31,967 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,443 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Hormel Foods in the fourth quarter valued at about $2,694,000. Finally, First Trust Advisors LP raised its holdings in Hormel Foods by 8.2% in the fourth quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock worth $82,963,000 after purchasing an additional 196,460 shares in the last quarter. Hedge funds and other 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.