James M. Splinter Sells 48,000 Shares of Hormel Foods Corp (HRL) Stock
Hormel Foods Corp (NYSE:HRL) VP James M. Splinter sold 48,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $44.98, for a total transaction of $2,159,040.00. Following the transaction, the vice president now owns 161,052 shares in the company, valued at $7,244,118.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of NYSE:HRL opened at $44.34 on Friday. The firm has a market capitalization of $23.94 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.13. Hormel Foods Corp has a 1 year low of $31.71 and a 1 year high of $46.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.80 and a quick ratio of 0.95.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Tuesday, November 20th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Hormel Foods had a net margin of 10.60% and a return on equity of 18.01%. Hormel Foods’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, equities analysts anticipate that Hormel Foods Corp will post 1.83 EPS for the current year.
HRL has been the topic of several research analyst reports. Buckingham Research boosted their price target on shares of Hormel Foods from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Barclays cut shares of Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price target on the stock. in a report on Friday, August 24th. Jefferies Financial Group restated a “buy” rating and set a $44.00 price target on shares of Hormel Foods in a report on Wednesday, August 29th. Finally, ValuEngine upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.56.
Large investors have recently modified their holdings of the stock. Sapphire Star Partners LP bought a new stake in Hormel Foods in the third quarter worth $102,000. Piedmont Investment Advisors LLC bought a new stake in Hormel Foods in the second quarter worth $118,000. Fort L.P. bought a new stake in Hormel Foods in the second quarter worth $125,000. Dupont Capital Management Corp bought a new stake in Hormel Foods in the second quarter worth $135,000. Finally, Moody National Bank Trust Division bought a new stake in Hormel Foods in the third quarter worth $142,000. Hedge funds and other institutional investors own 42.28% of the company’s stock.
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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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