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

Hormel Foods Co. (NYSE:HRL) SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total transaction of $327,000.00. Following the completion of the sale, the senior vice president now owns 39,050 shares of the company’s stock, valued at $1,276,935. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hormel Foods Trading Down 0.8 %

Shares of HRL stock opened at $32.13 on Friday. The stock has a 50 day simple moving average of $32.03 and a 200 day simple moving average of $32.95. Hormel Foods Co. has a 1 year low of $28.51 and a 1 year high of $39.58. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The stock has a market cap of $17.62 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 3.10 and a beta of 0.25.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in Hormel Foods by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock worth $196,729,000 after acquiring an additional 505,942 shares during the last quarter. Mairs & Power Inc. grew its stake in shares of Hormel Foods by 2.0% in the fourth quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock worth $175,290,000 after purchasing an additional 108,944 shares during the last quarter. Millennium Management LLC increased its holdings in Hormel Foods by 15.4% in the second quarter. Millennium Management LLC now owns 3,089,868 shares of the company’s stock valued at $94,210,000 after purchasing an additional 412,313 shares during the period. Dimensional Fund Advisors LP raised its position in Hormel Foods by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock worth $90,738,000 after purchasing an additional 575,378 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Hormel Foods by 97.8% in the 4th 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 during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.