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.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Monday, January 14th will be issued a $0.21 dividend. The ex-dividend date is Friday, January 11th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. Hormel Foods’s dividend payout ratio is currently 39.68%.

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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