Steven J. Lykken Sells 9,800 Shares of Hormel Foods Co. (NYSE:HRL) Stock

Hormel Foods Co. (NYSE:HRL) VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the sale, the vice president now owns 30,589 shares in the company, valued at approximately $976,094.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hormel Foods Price Performance

Hormel Foods stock opened at $31.65 on Wednesday. The firm has a market capitalization of $17.35 billion, a P/E ratio of 22.61, a PEG ratio of 3.11 and a beta of 0.25. Hormel Foods Co. has a 1 year low of $28.51 and a 1 year high of $38.27. The business has a 50-day moving average of $32.04 and a 200-day moving average of $32.79. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36.

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

Hormel Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.282 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s payout ratio is presently 80.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 647 shares during the period. CVA Family Office LLC bought a new stake in shares of Hormel Foods during the 1st quarter valued at $31,000. International Assets Investment Management LLC bought a new stake in shares of Hormel Foods during the 2nd quarter valued at $34,000. Central Valley Advisors LLC bought a new stake in shares of Hormel Foods during the 2nd quarter valued at $37,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Hormel Foods during the 1st quarter valued at $42,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and boosted their price target for the company from $33.00 to $37.00 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.33.

Hormel Foods Company Profile

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.