Hormel Foods Co. (NYSE:HRL) SVP Katherine M. Losness-Larson Acquires 830 Shares of Stock

Hormel Foods Co. (NYSE:HRL) SVP Katherine M. Losness-Larson bought 830 shares of the stock in a transaction on Thursday, June 27th. The stock was purchased at an average cost of $30.12 per share, for a total transaction of $24,999.60. Following the acquisition, the senior vice president now directly owns 15,905 shares of the company’s stock, valued at approximately $479,058.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hormel Foods Stock Performance

NYSE HRL opened at $30.49 on Friday. The business’s 50-day moving average price is $33.29 and its 200 day moving average price is $32.65. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $41.73. The company has a market capitalization of $16.72 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.90 and a beta of 0.25. The company has a current ratio of 1.73, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.97 billion. Hormel Foods had a return on equity of 11.31% and a net margin of 6.37%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. On average, research analysts predict that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.2825 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.71%. Hormel Foods’s dividend payout ratio (DPR) is 80.71%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a report on Friday, March 1st. Barclays upped their price objective on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upgraded Hormel Foods from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $28.00 to $29.00 in a research report on Friday, May 31st. Stephens restated an “equal weight” rating and issued a $32.00 price objective on shares of Hormel Foods in a research report on Friday, May 31st. Finally, Citigroup reduced their target price on Hormel Foods from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.67.

Hedge Funds Weigh In On Hormel Foods

A number of large investors have recently modified their holdings of HRL. Norges Bank purchased a new position in shares of Hormel Foods in the 4th quarter worth about $62,323,000. Goldman Sachs Group Inc. grew its stake in shares of Hormel Foods by 97.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after buying an additional 1,434,437 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Hormel Foods by 9.9% in the first quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock valued at $196,729,000 after buying an additional 505,942 shares in the last quarter. Vest Financial LLC grew its stake in shares of Hormel Foods by 40.6% in the first quarter. Vest Financial LLC now owns 1,221,147 shares of the company’s stock valued at $42,606,000 after buying an additional 352,896 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Hormel Foods in the 1st quarter worth approximately $10,140,000. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

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.