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

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 sale, the director now owns 95,488 shares of the company’s stock, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Hormel Foods Stock Performance

NYSE HRL opened at $30.95 on Tuesday. The company has a fifty day moving average price of $29.54 and a 200-day moving average price of $30.66. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 21.20, a PEG 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 1 year low of $27.59 and a 1 year high of $36.86.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be paid a $0.29 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 3.75%. Hormel Foods’s dividend payout ratio (DPR) is 84.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HRL shares. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned 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, Hormel Foods presently has a consensus rating of “Hold” and an average target price of $31.80.

Hedge Funds Weigh In On Hormel Foods

Hedge funds have recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in Hormel Foods by 80.2% during the third quarter. Cerity Partners LLC now owns 69,390 shares of the company’s stock worth $2,200,000 after acquiring an additional 30,879 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Hormel Foods during the 3rd quarter worth $335,000. Quantbot Technologies LP purchased a new position in shares of Hormel Foods in the 3rd quarter worth about $144,000. Brooklyn Investment Group bought a new position in Hormel Foods during the third quarter valued at about $32,000. Finally, Townsquare Capital LLC purchased a new stake in Hormel Foods during the third quarter worth about $290,000. Institutional investors own 40.99% of the company’s stock.

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.