Hormel Foods Corp (HRL) Director Robert Nakasone Sells 3,184 Shares

Hormel Foods Corp (NYSE:HRL) Director Robert Nakasone sold 3,184 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.50, for a total value of $119,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Nakasone also recently made the following trade(s):

  • On Tuesday, November 28th, Robert Nakasone sold 16,000 shares of Hormel Foods stock. The stock was sold at an average price of $34.40, for a total value of $550,400.00.

Hormel Foods Corp (NYSE HRL) traded down $0.58 during mid-day trading on Wednesday, reaching $37.10. The company’s stock had a trading volume of 2,423,600 shares, compared to its average volume of 2,410,280. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. Hormel Foods Corp has a 1 year low of $29.75 and a 1 year high of $38.00. The company has a market cap of $19,888.57, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.65.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the business earned $0.45 earnings per share. Hormel Foods’s revenue was down 5.1% on a year-over-year basis. equities research analysts expect that Hormel Foods Corp will post 1.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be given a $0.1875 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio (DPR) is presently 43.04%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its position in shares of Hormel Foods by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares during the period. Cadence Capital Management LLC increased its position in shares of Hormel Foods by 1.0% in the second quarter. Cadence Capital Management LLC now owns 9,922 shares of the company’s stock worth $338,000 after purchasing an additional 98 shares during the period. Rowland & Co. Investment Counsel ADV increased its position in shares of Hormel Foods by 0.6% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 17,720 shares of the company’s stock worth $605,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Hormel Foods by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock worth $570,000 after purchasing an additional 100 shares during the period. Finally, Keel Point LLC increased its position in shares of Hormel Foods by 2.5% in the second quarter. Keel Point LLC now owns 5,999 shares of the company’s stock worth $205,000 after purchasing an additional 145 shares during the period. Institutional investors own 38.33% of the company’s stock.

Several research analysts have weighed in on HRL shares. Morgan Stanley started coverage on Hormel Foods in a research report on Friday, November 3rd. They set an “underweight” rating and a $26.00 price objective on the stock. BMO Capital Markets reiterated a “buy” rating and set a $38.00 price objective on shares of Hormel Foods in a research report on Monday, November 6th. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Mizuho reiterated a “hold” rating and set a $33.00 price objective on shares of Hormel Foods in a research report on Wednesday, October 4th. Finally, Credit Suisse Group dropped coverage on Hormel Foods in a research report on Saturday, August 26th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Hormel Foods presently has a consensus rating of “Hold” and an average target price of $35.50.

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