Hormel Foods Corporation (NYSE:HRL) insider Donald H. Kremin sold 100,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $31.66, for a total value of $3,166,000.00. Following the transaction, the insider now directly owns 887 shares in the company, valued at approximately $28,082.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Hormel Foods Corporation (NYSE:HRL) opened at 31.77 on Wednesday. Hormel Foods Corporation has a one year low of $30.50 and a one year high of $38.84. The company has a market cap of $16.78 billion, a P/E ratio of 19.61 and a beta of 0.58. The company has a 50 day moving average price of $33.03 and a 200 day moving average price of $34.01.
Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Equities research analysts expect that Hormel Foods Corporation will post $1.56 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in HRL. Acrospire Investment Management LLC bought a new stake in shares of Hormel Foods Corporation in the 2nd quarter valued at approximately $111,000. BB&T Investment Services Inc. bought a new stake in shares of Hormel Foods Corporation in the 2nd quarter valued at approximately $118,000. Canada Pension Plan Investment Board grew its stake in shares of Hormel Foods Corporation by 230.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after purchasing an additional 2,664 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Hormel Foods Corporation by 20.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock valued at $148,000 after purchasing an additional 718 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Hormel Foods Corporation by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after purchasing an additional 295 shares during the period. Institutional investors own 38.91% of the company’s stock.
HRL has been the topic of a number of research analyst reports. Credit Suisse Group reduced their target price on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 26th. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 30th. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Finally, Mizuho initiated coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Hormel Foods Corporation presently has a consensus rating of “Hold” and an average price target of $38.36.
Hormel Foods Corporation Company Profile
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