Here is the rundown on market activity for Hormel Foods Corporation Common (NYSE:HRL). Today Brian Dean Johnson, VP & Corporate Secretary disclosed the sale of 3,500 shares of (HRL). The shares were sold on September 27th for an average price of $38.00. The VP & Corporate Secretary now owns $859,526 of the stock per the Form 4 SEC filing. Yesterday Group Vice President Larry L. Vorpahl disclosed the sale of 400 shares. The shares were purchased at an average price of $37.88. Vorpahl now owns $4,045,275 of the stock according to the SEC filing.
Dakota A. Pippins, Director disclosed the sale of 5,000 shares of HRL stock. The shares were sold on July 1st for an average price of $36.74. Pippins now owns $3,542,342 of the stock per the Form 4 SEC filing.
Here are a few additional firms who have increased or decreased their stake in (HRL). Evercore Wealth Management, LLC added to its holdings by buying 213 shares an increase of 94.2%. Evercore Wealth Management, LLC owns 439 shares with a value of $16,000. The value of the position overall is up by 60.0%. As of the end of the quarter BNP Paribas Investment Partners S.A. had bought a total of 8,275 shares growing its holdings by 55.8%. The value of the total investment in Hormel Foods Corporation Common decreased from $1,173,000 to $846,000 a change of 27.9% quarter to quarter.
As of quarter end Twin Tree Management, Lp had disposed of 10,200 shares trimming its stake by 27.6%. The value of the investment in (HRL) went from $1,600,000 to $2,119,000 increasing 32.4% quarter over quarter. As of quarter end Kames Capital Plc had acquired a total of 5,380 shares growing its position 16.6%. The value of the investment in HRL decreased from $1,404,000 to $1,386,000 a change of $18,000 since the last quarter.
On September 16 analysts at Oppenheimer added the stock to its research portfolio giving it an initial rating of “Perform” and setting a price target of $38.00. On September 16 the company was upgraded to “Buy” from “Buy” in an announcement from Edward Jones.
On August 24 the stock rating was upgraded from “” to “Buy” in a statement from Edward Jones. On August 22 the company was upgraded to “Outperform” from “Neutral” and a price target of $43.00 was set by Credit Suisse.
Equity analyst Credit Suisse upgraded the stock and lowered the price target on August 22 cutting the price target from $72.00 to $43.00 and setting the rating at “Outperform” which had previously been “Neutral”. On August 19 the company was changed to a “Outperform” according to a BMO Capital report which was a boost from the previous “Market Perform” rating.
The company is now up by 0.31 percent from yesterday’s close. Additionally Hormel Foods Corporation Common recently announced a dividend for shareholders that was paid on Monday the 15th of August 2016. The dividend payment was $0.145 per share for the quarter which comes to $0.58 on an annualized basis. This dividend amount was represent a yeild of $1.53. The ex-dividend date was set for Thursday the 14th of July 2016.
The stock last traded at $38.37 barely above $37.45, the stock’s 50 day moving average and just above the 200 day moving average of $37.87. The 50 day moving average was up $0.92 or +2.46% whereas the 200 day moving average was up $0.50 or +1.33%.
The P/E ratio is 24.92 and the market cap of the company is 20.31B. As of the latest earnings report the EPS was $1.54 and is projected to be $1.63 for the current year with 529,200,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.45 and the next full year EPS is anticipated to be $1.67.