Kevin L. Myers Sells 5,000 Shares of Hormel Foods Co. (NYSE:HRL) Stock

Hormel Foods Co. (NYSE:HRLGet Rating) SVP Kevin L. Myers sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $45.07, for a total value of $225,350.00. Following the completion of the sale, the senior vice president now directly owns 32,869 shares in the company, valued at approximately $1,481,405.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

HRL traded up $0.33 during trading on Thursday, reaching $45.94. 40,586 shares of the stock traded hands, compared to its average volume of 1,953,599. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 3.10 and a beta of 0.10. Hormel Foods Co. has a fifty-two week low of $40.48 and a fifty-two week high of $55.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.28 and a quick ratio of 1.20. The stock’s 50-day simple moving average is $51.13 and its two-hundred day simple moving average is $49.00.

Hormel Foods (NYSE:HRLGet Rating) last released its quarterly earnings data on Thursday, June 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Hormel Foods had a return on equity of 14.10% and a net margin of 7.70%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. Research analysts anticipate that Hormel Foods Co. will post 1.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 11th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, July 8th. This represents a $1.04 annualized dividend and a yield of 2.26%. Hormel Foods’s dividend payout ratio is 59.43%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Regentatlantic Capital LLC increased its stake in Hormel Foods by 2.6% during the first quarter. Regentatlantic Capital LLC now owns 8,267 shares of the company’s stock valued at $426,000 after acquiring an additional 210 shares during the period. Savant Capital LLC increased its stake in Hormel Foods by 3.2% during the fourth quarter. Savant Capital LLC now owns 6,778 shares of the company’s stock valued at $331,000 after acquiring an additional 211 shares during the period. ICW Investment Advisors LLC grew its stake in shares of Hormel Foods by 0.6% in the 1st quarter. ICW Investment Advisors LLC now owns 37,134 shares of the company’s stock valued at $1,914,000 after purchasing an additional 215 shares during the period. CENTRAL TRUST Co grew its stake in shares of Hormel Foods by 14.2% in the 1st quarter. CENTRAL TRUST Co now owns 1,804 shares of the company’s stock valued at $93,000 after purchasing an additional 225 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Hormel Foods by 0.3% in the 1st quarter. Arizona State Retirement System now owns 81,882 shares of the company’s stock valued at $4,220,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Several analysts have weighed in on HRL shares. Credit Suisse Group cut their target price on Hormel Foods to $44.00 in a research note on Friday, June 3rd. StockNews.com began coverage on Hormel Foods in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler lowered their price target on Hormel Foods to $48.00 in a research report on Friday, June 3rd. Argus upgraded Hormel Foods from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, March 10th. Finally, JPMorgan Chase & Co. lifted their price target on Hormel Foods from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.83.

Hormel Foods Company Profile (Get Rating)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

Further Reading

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

Want More Great Investing Ideas?

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.