Insider Selling: Hormel Foods Co. (NYSE:HRL) VP Sells 8,000 Shares of Stock

Hormel Foods Co. (NYSE:HRL) VP Gary Jamison sold 8,000 shares of the business’s stock in a transaction on Monday, January 10th. The shares were sold at an average price of $50.30, for a total transaction of $402,400.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of NYSE:HRL opened at $49.08 on Friday. The company’s 50-day moving average is $45.87 and its 200 day moving average is $44.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 2.08. The company has a market capitalization of $26.63 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.08. Hormel Foods Co. has a fifty-two week low of $40.48 and a fifty-two week high of $50.86.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, December 9th. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.22 billion. Hormel Foods had a net margin of 7.98% and a return on equity of 13.97%. The firm’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. As a group, research analysts predict that Hormel Foods Co. will post 1.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Tuesday, January 18th will be issued a $0.26 dividend. This is an increase from Hormel Foods’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, January 14th. Hormel Foods’s payout ratio is 59.04%.

HRL has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and set a $42.00 price target for the company in a research note on Friday, October 8th. BMO Capital Markets restated a “hold” rating on shares of Hormel Foods in a research note on Friday, December 10th. TheStreet upgraded shares of Hormel Foods from a “c+” rating to a “b-” rating in a research note on Friday, December 17th. Credit Suisse Group upped their target price on shares of Hormel Foods from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 10th. Finally, Piper Sandler upped their target price on shares of Hormel Foods from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, December 10th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, Hormel Foods currently has an average rating of “Hold” and an average target price of $46.60.

Several large investors have recently modified their holdings of the stock. Scout Investments Inc. purchased a new stake in Hormel Foods during the fourth quarter valued at about $55,866,000. Principal Financial Group Inc. lifted its holdings in Hormel Foods by 21.5% during the third quarter. Principal Financial Group Inc. now owns 5,680,665 shares of the company’s stock valued at $232,907,000 after purchasing an additional 1,005,219 shares during the last quarter. Morgan Stanley lifted its holdings in Hormel Foods by 89.8% during the second quarter. Morgan Stanley now owns 2,096,564 shares of the company’s stock valued at $100,111,000 after purchasing an additional 991,964 shares during the last quarter. Amundi purchased a new stake in Hormel Foods during the second quarter valued at about $46,911,000. Finally, Capital International Investors lifted its holdings in Hormel Foods by 6.5% during the second quarter. Capital International Investors now owns 10,997,612 shares of the company’s stock valued at $525,123,000 after purchasing an additional 668,747 shares during the last quarter. 40.38% of the stock is currently owned by institutional investors.

About Hormel Foods

Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market.

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Insider Buying and Selling by Quarter for Hormel Foods (NYSE:HRL)

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