Several other hedge funds have also bought and sold shares of HRL. Clear Street Markets LLC grew its position in Hormel Foods by 413.0% in the 2nd quarter. Clear Street Markets LLC now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 475 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Hormel Foods in the 1st quarter valued at $41,000. Old North State Trust LLC acquired a new stake in Hormel Foods in the 3rd quarter valued at $59,000. Jones Financial Companies Lllp grew its position in Hormel Foods by 56.5% in the 2nd quarter. Jones Financial Companies Lllp now owns 1,571 shares of the company’s stock valued at $74,000 after purchasing an additional 567 shares during the period. Finally, Ronald Blue Trust Inc. purchased a new position in Hormel Foods during the 2nd quarter worth $75,000. Institutional investors and hedge funds own 39.74% of the company’s stock.
Insider Transactions at Hormel Foods
In other news, VP Patrick J. Connor sold 1,577 shares of Hormel Foods stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $46.88, for a total transaction of $73,929.76. Following the sale, the vice president now directly owns 22,682 shares in the company, valued at approximately $1,063,332.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO James P. Snee sold 31,283 shares of the business’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $47.66, for a total value of $1,490,947.78. Following the sale, the chief executive officer now directly owns 234,999 shares in the company, valued at approximately $11,200,052.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Patrick J. Connor sold 1,577 shares of the business’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $46.88, for a total value of $73,929.76. Following the completion of the sale, the vice president now owns 22,682 shares in the company, valued at $1,063,332.16. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Analysts Set New Price Targets
Separately, Argus lifted their price objective on shares of Hormel Foods from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, December 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Hormel Foods presently has an average rating of “Hold” and a consensus price target of $48.17.
Hormel Foods Price Performance
HRL opened at $45.74 on Friday. The company has a market capitalization of $24.99 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 3.65 and a beta of 0.19. Hormel Foods Co. has a 1 year low of $44.08 and a 1 year high of $55.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.47 and a quick ratio of 1.30. The firm’s fifty day moving average price is $45.50 and its two-hundred day moving average price is $46.85.
Hormel Foods (NYSE:HRL – Get Rating) last released its earnings results on Wednesday, November 30th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Hormel Foods had a return on equity of 13.62% and a net margin of 8.03%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. As a group, analysts anticipate that Hormel Foods Co. will post 1.89 earnings per share for the current fiscal year.
Hormel Foods Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 17th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.40%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, January 13th. Hormel Foods’s payout ratio is presently 60.11%.
Hormel Foods Company Profile
Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment focuses on the processing, marketing, and sale of shelf-stable food products sold in the retail market.
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