Hormel Foods Co. (NYSE:HRL) VP Sells $49,747.20 in Stock

Hormel Foods Co. (NYSE:HRLGet Rating) VP Swen Neufeldt sold 960 shares of the stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $51.82, for a total transaction of $49,747.20. Following the completion of the sale, the vice president now directly owns 23,332 shares in the company, valued at approximately $1,209,064.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Hormel Foods stock opened at $51.57 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.19 and a quick ratio of 1.21. Hormel Foods Co. has a 1 year low of $40.48 and a 1 year high of $55.11. The firm’s 50-day moving average is $51.58 and its two-hundred day moving average is $47.92. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 3.37 and a beta of 0.09.

Hormel Foods (NYSE:HRLGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Hormel Foods had a net margin of 7.74% and a return on equity of 13.94%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business earned $0.41 EPS. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. On average, equities analysts expect that Hormel Foods Co. will post 1.93 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Monday, April 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, April 8th. Hormel Foods’s dividend payout ratio is currently 61.54%.

Several large investors have recently added to or reduced their stakes in HRL. Riverview Trust Co bought a new stake in shares of Hormel Foods in the 1st quarter valued at about $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Hormel Foods in the 1st quarter valued at about $27,000. Sandy Cove Advisors LLC bought a new stake in shares of Hormel Foods in the 4th quarter valued at about $31,000. Whittier Trust Co. boosted its holdings in shares of Hormel Foods by 61.5% in the 4th quarter. Whittier Trust Co. now owns 646 shares of the company’s stock valued at $32,000 after buying an additional 246 shares in the last quarter. Finally, Leverty Financial Group LLC bought a new stake in shares of Hormel Foods in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Hormel Foods from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. StockNews.com assumed coverage on shares of Hormel Foods in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Argus raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, March 10th. Credit Suisse Group raised their price target on shares of Hormel Foods from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. Finally, Piper Sandler raised their price target on shares of Hormel Foods from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.86.

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.

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