Investors Sell Hormel Foods (HRL) on Strength (HRL)

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Investors sold shares of Hormel Foods Corp (NYSE:HRL) on strength during trading hours on Thursday. $11.89 million flowed into the stock on the tick-up and $34.99 million flowed out of the stock on the tick-down, for a money net flow of $23.10 million out of the stock. Of all stocks tracked, Hormel Foods had the 0th highest net out-flow for the day. Hormel Foods traded up $0.22 for the day and closed at $41.12

Several equities analysts have issued reports on HRL shares. Mizuho downgraded shares of Hormel Foods from a “neutral” rating to an “underperform” rating and set a $33.00 price objective on the stock. in a report on Wednesday, July 25th. Jefferies Financial Group reissued a “buy” rating and issued a $44.00 price target on shares of Hormel Foods in a research note on Wednesday, August 29th. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. JPMorgan Chase & Co. assumed coverage on shares of Hormel Foods in a research note on Friday, September 28th. They issued a “neutral” rating and a $41.00 price target on the stock. Finally, Buckingham Research raised their price target on shares of Hormel Foods from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.20.

The company has a current ratio of 1.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.81 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.38 billion. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. As a group, analysts anticipate that Hormel Foods Corp will post 1.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 22nd will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, October 19th. Hormel Foods’s payout ratio is currently 47.77%.

In related news, insider Deanna T. Brady sold 48,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $41.05, for a total transaction of $1,970,400.00. Following the completion of the sale, the insider now directly owns 83,102 shares in the company, valued at $3,411,337.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman James P. Snee sold 21,923 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $37.85, for a total transaction of $829,785.55. Following the sale, the chairman now owns 49,326 shares of the company’s stock, valued at $1,866,989.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,632 shares of company stock valued at $5,556,981. 3.54% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in HRL. Piedmont Investment Advisors LLC acquired a new stake in Hormel Foods during the second quarter worth about $118,000. Fort L.P. acquired a new stake in Hormel Foods during the second quarter worth about $125,000. IMS Capital Management acquired a new stake in Hormel Foods during the second quarter worth about $130,000. Dupont Capital Management Corp acquired a new stake in Hormel Foods during the second quarter worth about $135,000. Finally, Cape Cod Five Cents Savings Bank acquired a new stake in Hormel Foods during the third quarter worth about $203,000. Hedge funds and other institutional investors own 41.84% of the company’s stock.

Hormel Foods Company Profile (NYSE:HRL)

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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