Elsa A. Murano Sells 4,500 Shares of Hormel Foods Co. (NYSE:HRL) Stock

Hormel Foods Co. (NYSE:HRL) Director Elsa A. Murano sold 4,500 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $30.40, for a total transaction of $136,800.00. Following the transaction, the director now owns 95,488 shares in the company, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hormel Foods Trading Down 0.6 %

HRL stock opened at $30.76 on Wednesday. The company has a market capitalization of $16.91 billion, a PE ratio of 21.07, a P/E/G ratio of 2.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The firm’s 50-day moving average is $29.54 and its 200 day moving average is $30.65.

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio is presently 84.67%.

Institutional Trading of Hormel Foods

Large investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Hormel Foods by 34.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,187 shares of the company’s stock worth $99,000 after buying an additional 816 shares during the period. Wellington Management Group LLP bought a new stake in shares of Hormel Foods in the fourth quarter valued at about $659,000. Wealth Enhancement Advisory Services LLC lifted its stake in Hormel Foods by 23.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 129,158 shares of the company’s stock worth $4,052,000 after acquiring an additional 24,510 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hormel Foods during the 4th quarter worth about $5,362,000. Finally, Advisor Resource Council purchased a new position in Hormel Foods during the 4th quarter valued at about $314,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

HRL has been the subject of a number of recent analyst reports. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.80.

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.