Gary Jamison Sells 570 Shares of Hormel Foods Corp (HRL) Stock

Hormel Foods Corp (NYSE:HRL) VP Gary Jamison sold 570 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $36.86, for a total transaction of $21,010.20. Following the sale, the vice president now directly owns 7,876 shares in the company, valued at approximately $290,309.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Gary Jamison also recently made the following trade(s):

  • On Thursday, November 30th, Gary Jamison sold 4,169 shares of Hormel Foods stock. The stock was sold at an average price of $36.48, for a total transaction of $152,085.12.

Shares of Hormel Foods Corp (NYSE:HRL) traded down $0.17 during trading on Thursday, hitting $36.93. 1,382,848 shares of the stock were exchanged, compared to its average volume of 2,406,100. The firm has a market cap of $19,582.43, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.41 and a beta of 0.65. Hormel Foods Corp has a fifty-two week low of $29.75 and a fifty-two week high of $38.00. 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 (NYSE:HRL) last announced its earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. equities analysts expect that Hormel Foods Corp will post 1.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s payout ratio is presently 43.04%.

HRL has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “buy” rating and set a $38.00 price objective on shares of Hormel Foods in a report on Monday, November 6th. Zacks Investment Research raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, November 23rd. Jefferies Group set a $34.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a report on Sunday, October 29th. Mizuho reissued a “hold” rating and set a $33.00 price objective on shares of Hormel Foods in a report on Wednesday, October 4th. Finally, Credit Suisse Group dropped coverage on shares of Hormel Foods in a 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 assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $35.50.

Several institutional investors have recently made changes to their positions in HRL. Dupont Capital Management Corp acquired a new position in shares of Hormel Foods in the 3rd quarter valued at $100,000. Acrospire Investment Management LLC acquired a new position in shares of Hormel Foods in the 2nd quarter valued at $111,000. BB&T Investment Services Inc. acquired a new position in shares of Hormel Foods in the 2nd quarter valued at $118,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Hormel Foods by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after acquiring an additional 19 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of Hormel Foods in the 2nd quarter valued at $189,000. 38.33% of the stock is currently owned by institutional investors and hedge funds.

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