行业新闻
Hormel Foods Co. NYSEHRL Director Sells 798959.70 in Stock
Hormel Foods Co. (NYSE:HRL) Director Susan K. Nestegard sold 16,470 shares of the business's stock in a transaction on Friday, June 11th. The shares were sold at an average price of $48.51, for a total transaction of $798,959.70. Following the sale, the director now directly owns 90,901 shares of the company's stock, valued at $4,409,607.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
NYSE:HRL traded up $0.02 during mid-day trading on Monday, reaching $48.80. The company's stock had a trading volume of 49,535 shares, compared to its average volume of 2,466,661. Hormel Foods Co. has a 1 year low of $43.45 and a 1 year high of $52.97. The business's fifty day simple moving average is $47.57. The stock has a market capitalization of $26.45 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 4.46 and a beta of -0.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.99 and a quick ratio of 1.94.
Hormel Foods (NYSE:HRL) last released its quarterly earnings data 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 net margin of 8.99% and a return on equity of 13.68%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that Hormel Foods Co. will post 1.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Monday, July 12th will be paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, July 9th. Hormel Foods's dividend payout ratio (DPR) is presently 59.04%.
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 analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of "Hold" and an average target price of $48.00.
A number of large investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC raised its holdings in Hormel Foods by 2.6% in the fourth quarter. Cetera Advisors LLC now owns 8,832 shares of the company's stock worth $412,000 after purchasing an additional 226 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Hormel Foods by 49.1% in the fourth quarter. Meeder Asset Management Inc. now owns 692 shares of the company's stock worth $32,000 after purchasing an additional 228 shares in the last quarter. Navellier & Associates Inc raised its holdings in Hormel Foods by 0.5% in the first quarter. Navellier & Associates Inc now owns 45,296 shares of the company's stock worth $2,164,000 after purchasing an additional 246 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV raised its holdings in Hormel Foods by 2.3% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 10,949 shares of the company's stock worth $523,000 after purchasing an additional 248 shares in the last quarter. Finally, CAPROCK Group Inc. raised its holdings in Hormel Foods by 5.2% in the first quarter. CAPROCK Group Inc. now owns 5,118 shares of the company's stock worth $245,000 after purchasing an additional 253 shares in the last quarter. 40.44% of the stock is owned by institutional investors.