Deanna T. Brady Sells 51,600 Shares of Hormel Foods Co. (NYSE:HRL) Stock

Hormel Foods Co. (NYSE:HRL) EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction on Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the transaction, the executive vice president now owns 72,421 shares in the company, valued at approximately $2,313,850.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hormel Foods Stock Performance

NYSE:HRL opened at $32.37 on Wednesday. The stock’s 50-day moving average is $31.96 and its 200-day moving average is $32.96. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $39.58. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The stock has a market cap of $17.75 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 3.10 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Equities research analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC lifted its stake in shares of Hormel Foods by 9.9% in the first quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock worth $196,729,000 after acquiring an additional 505,942 shares during the period. Mairs & Power Inc. boosted its stake in shares of Hormel Foods by 2.0% in the 4th quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after purchasing an additional 108,944 shares during the last quarter. Millennium Management LLC increased its position in shares of Hormel Foods by 15.4% during the second quarter. Millennium Management LLC now owns 3,089,868 shares of the company’s stock worth $94,210,000 after buying an additional 412,313 shares during the period. Dimensional Fund Advisors LP raised its stake in Hormel Foods by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock worth $90,738,000 after buying an additional 575,378 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Hormel Foods by 97.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after acquiring an additional 1,434,437 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and raised their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and raised their price target for the company from $28.00 to $29.00 in a research note on Friday, May 31st. Finally, Stephens reiterated an “equal weight” rating and set a $32.00 price objective on shares of Hormel Foods in a research report on Friday, May 31st. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.33.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.