Hormel Foods Corporation (HRL) Insider Steven G. Binder Sells 15,000 Shares of Stock
Hormel Foods Corporation (NYSE:HRL) insider Steven G. Binder sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the transaction, the insider now directly owns 26,838 shares of the company’s stock, valued at approximately $858,816. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Hormel Foods Corporation (NYSE:HRL) traded up 0.0529% during midday trading on Friday, hitting $31.2065. The company had a trading volume of 1,102,441 shares. The company has a 50-day moving average of $32.60 and a 200 day moving average of $33.86. Hormel Foods Corporation has a 12 month low of $30.50 and a 12 month high of $38.84. The firm has a market capitalization of $16.47 billion, a PE ratio of 19.2633 and a beta of 0.58.
Hormel Foods Corporation (NYSE:HRL) last posted its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.
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Several research firms have recently issued reports on HRL. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corporation in a research report on Friday, June 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $38.00 price objective (down from $45.00) on shares of Hormel Foods Corporation in a report on Friday, August 25th. Barclays PLC reduced their price objective on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Finally, BidaskClub downgraded Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.30.
Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Hormel Foods Corporation by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock worth $1,059,004,000 after purchasing an additional 777,942 shares during the period. State Street Corp grew its holdings in shares of Hormel Foods Corporation by 0.4% in the 2nd quarter. State Street Corp now owns 30,226,307 shares of the company’s stock worth $1,031,019,000 after acquiring an additional 132,262 shares during the period. BlackRock Inc. grew its holdings in shares of Hormel Foods Corporation by 2.3% in the 2nd quarter. BlackRock Inc. now owns 19,429,152 shares of the company’s stock worth $662,728,000 after acquiring an additional 437,716 shares during the period. Capital International Investors grew its holdings in shares of Hormel Foods Corporation by 16.8% in the 2nd quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock worth $282,600,000 after acquiring an additional 1,191,000 shares during the period. Finally, APG Asset Management N.V. grew its holdings in shares of Hormel Foods Corporation by 3.3% in the 2nd quarter. APG Asset Management N.V. now owns 5,165,938 shares of the company’s stock worth $176,210,000 after acquiring an additional 162,900 shares during the period. 38.95% of the stock is owned by hedge funds and other institutional investors.
Hormel Foods Corporation Company Profile
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