Hormel Foods Corp (HRL) Insider Sells $140,693.02 in Stock
Hormel Foods Corp (NYSE:HRL) insider Steven J. Lykken sold 3,614 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.93, for a total transaction of $140,693.02. Following the completion of the sale, the insider now owns 14,337 shares of the company’s stock, valued at approximately $558,139.41. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Hormel Foods stock opened at $39.98 on Wednesday. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 2.68 and a beta of 0.34. The company has a current ratio of 1.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12. Hormel Foods Corp has a twelve month low of $29.75 and a twelve month high of $40.08.
Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, August 23rd. The company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.38 billion. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. equities research analysts forecast that Hormel Foods Corp will post 1.76 earnings per share for the current year.
Several brokerages recently commented on HRL. Jefferies Financial Group restated a “buy” rating and issued a $44.00 price target on shares of Hormel Foods in a research report on Wednesday, August 29th. Barclays lowered shares of Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock. in a research note on Friday, August 24th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Buckingham Research upped their price objective on shares of Hormel Foods from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 16th. Finally, Mizuho lowered shares of Hormel Foods from a “neutral” rating to an “underperform” rating and set a $33.00 price objective on the stock. in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Hormel Foods has an average rating of “Hold” and an average price target of $36.30.
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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