John L. Morrison Sells 24,814 Shares of Hormel Foods Corporation (HRL) Stock

Hormel Foods Corporation (NYSE:HRL) Director John L. Morrison sold 24,814 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $31.81, for a total transaction of $789,333.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hormel Foods Corporation (NYSE:HRL) opened at 31.51 on Wednesday. The firm has a market cap of $16.63 billion, a P/E ratio of 19.45 and a beta of 0.58. The company’s 50-day moving average is $31.44 and its 200 day moving average is $33.45. Hormel Foods Corporation has a 12 month low of $30.50 and a 12 month high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Equities research analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.

TRADEMARK VIOLATION WARNING: This report was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://ledgergazette.com/2017/10/18/john-l-morrison-sells-24814-shares-of-hormel-foods-corporation-hrl-stock.html.

HRL has been the topic of several research reports. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating on the stock. BidaskClub downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Barclays PLC reduced their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, August 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $38.00 price target (down previously from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

A number of institutional investors have recently added to or reduced their stakes in the business. Curbstone Financial Management Corp grew its position in Hormel Foods Corporation by 98.1% in the third quarter. Curbstone Financial Management Corp now owns 42,501 shares of the company’s stock valued at $1,366,000 after acquiring an additional 21,050 shares during the last quarter. Sentry Investment Management LLC grew its holdings in shares of Hormel Foods Corporation by 1.1% during the second quarter. Sentry Investment Management LLC now owns 20,869 shares of the company’s stock worth $712,000 after purchasing an additional 218 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Hormel Foods Corporation by 25.5% during the second quarter. Toronto Dominion Bank now owns 91,638 shares of the company’s stock worth $3,126,000 after purchasing an additional 18,624 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Hormel Foods Corporation during the second quarter worth about $463,000. Finally, Tandem Investment Advisors Inc. grew its holdings in shares of Hormel Foods Corporation by 4.6% during the second quarter. Tandem Investment Advisors Inc. now owns 73,813 shares of the company’s stock worth $2,518,000 after purchasing an additional 3,248 shares during the last quarter. Hedge funds and other institutional investors own 38.92% of the company’s stock.

Hormel Foods Corporation Company Profile

Hormel Foods Corporation (NYSE:HRL) opened at 31.51 on Wednesday. The firm has a market cap of $16.63 billion, a P/E ratio of 19.45 and a beta of 0.58. The company’s 50-day moving average is $31.44 and its 200 day moving average is $33.45. Hormel Foods Corporation has a 12 month low of $30.50 and a 12 month high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Equities research analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.

TRADEMARK VIOLATION WARNING: This report was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://ledgergazette.com/2017/10/18/john-l-morrison-sells-24814-shares-of-hormel-foods-corporation-hrl-stock.html.

HRL has been the topic of several research reports. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating on the stock. BidaskClub downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Barclays PLC reduced their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, August 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $38.00 price target (down previously from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

A number of institutional investors have recently added to or reduced their stakes in the business. Curbstone Financial Management Corp grew its position in Hormel Foods Corporation by 98.1% in the third quarter. Curbstone Financial Management Corp now owns 42,501 shares of the company’s stock valued at $1,366,000 after acquiring an additional 21,050 shares during the last quarter. Sentry Investment Management LLC grew its holdings in shares of Hormel Foods Corporation by 1.1% during the second quarter. Sentry Investment Management LLC now owns 20,869 shares of the company’s stock worth $712,000 after purchasing an additional 218 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Hormel Foods Corporation by 25.5% during the second quarter. Toronto Dominion Bank now owns 91,638 shares of the company’s stock worth $3,126,000 after purchasing an additional 18,624 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Hormel Foods Corporation during the second quarter worth about $463,000. Finally, Tandem Investment Advisors Inc. grew its holdings in shares of Hormel Foods Corporation by 4.6% during the second quarter. Tandem Investment Advisors Inc. now owns 73,813 shares of the company’s stock worth $2,518,000 after purchasing an additional 3,248 shares during the last quarter. Hedge funds and other institutional investors own 38.92% of the company’s stock.

Hormel Foods Corporation Company Profile

Insider Buying and Selling by Quarter for Hormel Foods Corporation (NYSE:HRL)

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