Hormel Foods Target of Unusually Large Options Trading (NYSE:HRL)

Hormel Foods Corp (NYSE:HRL) saw some unusual options trading on Wednesday. Traders acquired 3,711 call options on the stock. This is an increase of approximately 1,018% compared to the average volume of 332 call options.

Several analysts have weighed in on HRL shares. Zacks Investment Research lowered Hormel Foods from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a report on Friday, July 26th. Stephens set a $37.00 price objective on Hormel Foods and gave the company a “hold” rating in a research note on Monday, August 12th. Buckingham Research decreased their price objective on Hormel Foods from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. ValuEngine lowered Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Edward Jones lowered Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Hormel Foods currently has a consensus rating of “Hold” and an average price target of $39.90.

In other Hormel Foods news, VP James N. Sheehan sold 55,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $41.55, for a total value of $2,285,250.00. Following the sale, the vice president now owns 60,000 shares of the company’s stock, valued at $2,493,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Nakasone sold 14,695 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $40.71, for a total value of $598,233.45. Following the completion of the sale, the director now directly owns 78,457 shares in the company, valued at approximately $3,193,984.47. The disclosure for this sale can be found here. Insiders sold 87,695 shares of company stock worth $3,601,503 in the last three months. 1.11% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Partners LLC lifted its position in Hormel Foods by 1.8% during the first quarter. Advisor Partners LLC now owns 15,072 shares of the company’s stock worth $675,000 after buying an additional 271 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Hormel Foods by 0.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,220 shares of the company’s stock worth $2,968,000 after buying an additional 299 shares during the period. Pittenger & Anderson Inc. lifted its position in Hormel Foods by 0.6% during the second quarter. Pittenger & Anderson Inc. now owns 52,150 shares of the company’s stock worth $2,114,000 after buying an additional 315 shares during the period. 6 Meridian lifted its position in Hormel Foods by 2.9% during the second quarter. 6 Meridian now owns 11,386 shares of the company’s stock worth $462,000 after buying an additional 318 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its position in Hormel Foods by 2.4% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 13,625 shares of the company’s stock worth $552,000 after buying an additional 325 shares during the period. Hedge funds and other institutional investors own 43.34% of the company’s stock.

HRL opened at $42.95 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.04. The firm has a market cap of $22.08 billion, a P/E ratio of 22.72, a PEG ratio of 3.18 and a beta of 0.11. Hormel Foods has a 52 week low of $36.25 and a 52 week high of $46.26. The business’s fifty day simple moving average is $41.34 and its 200 day simple moving average is $41.50.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.29 billion. Hormel Foods had a return on equity of 17.31% and a net margin of 10.38%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. As a group, equities analysts expect that Hormel Foods will post 1.72 EPS for the current fiscal year.

About Hormel Foods

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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