行业新闻
Swen Neufeldt Sells 6200 Shares of Hormel Foods Co. NYSEHRL Stock
Hormel Foods Co. (NYSE:HRL) VP Swen Neufeldt sold 6,200 shares of the firm's stock in a transaction that occurred on Thursday, June 3rd. The stock was sold at an average price of $49.50, for a total transaction of $306,900.00. Following the transaction, the vice president now directly owns 19,821 shares of the company's stock, valued at $981,139.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
HRL stock traded down $0.31 during midday trading on Friday, reaching $49.33. 28,133 shares of the company were exchanged, compared to its average volume of 2,500,594. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.99 and a quick ratio of 1.94. The stock's 50-day simple moving average is $47.46. Hormel Foods Co. has a one year low of $43.45 and a one year high of $52.97. The firm has a market capitalization of $26.65 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 4.46 and a beta of -0.07.
Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, May 19th. The company reported $0.42 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.41 by $0.01. Hormel Foods had a return on equity of 13.68% and a net margin of 8.99%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that Hormel Foods Co. will post 1.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Monday, July 12th will be issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, July 9th. Hormel Foods's dividend payout ratio is currently 59.04%.
Several large investors have recently added to or reduced their stakes in the company. Advisor Partners LLC boosted its holdings in Hormel Foods by 6.3% in the first quarter. Advisor Partners LLC now owns 19,221 shares of the company's stock valued at $918,000 after acquiring an additional 1,142 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC lifted its stake in Hormel Foods by 17.3% in the first quarter. Bontempo Ohly Capital Mgmt LLC now owns 75,547 shares of the company's stock valued at $3,610,000 after buying an additional 11,140 shares during the period. Millennium Management LLC lifted its stake in Hormel Foods by 150.4% in the first quarter. Millennium Management LLC now owns 654,899 shares of the company's stock valued at $31,291,000 after buying an additional 393,344 shares during the period. Canada Pension Plan Investment Board lifted its stake in Hormel Foods by 208.6% in the first quarter. Canada Pension Plan Investment Board now owns 378,216 shares of the company's stock valued at $18,071,000 after buying an additional 255,656 shares during the period. Finally, Eaton Vance Management lifted its stake in Hormel Foods by 0.4% in the first quarter. Eaton Vance Management now owns 358,810 shares of the company's stock valued at $17,144,000 after buying an additional 1,283 shares during the period. Institutional investors own 40.44% of the company's stock.
Separately, Zacks Investment Research raised shares of Hormel Foods from a "sell" rating to a "hold" rating and set a $52.00 target price for the company in a research note on Friday, May 21st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has an average rating of "Hold" and a consensus price target of $48.00.
Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.