Hormel Foods exec sells $539k in stock, buys $406k worth By Investing.com

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In a recent engagement, Mark A. Coffey, Group Vice President Hormel Foods Corp (NYSE:), selling shares of the company, resulting in a sale price of approximately $539,055. The shares were traded at weighted prices ranging from $35.00 to $35.025 per share. On the same day, Coffey also acquired $406,252 worth of Hormel Foods at a price of $26.38 per share.

The transaction took place on March 28, 2024, and was disclosed in a form 4 with the Securities and Exchange Commission. Following the sale, Coffey’s direct ownership in Hormel Foods decreased to 68,029.094 shares. In addition, Coffey owns 1,808.461 shares indirectly through the 401(k) Plan and 9,684.503 shares through the JEPST Plan.

Coffey’s sale of 15,400 shares was part of a larger trading plan involving several transactions. The exact number of shares sold at any price within the range is not specified, but Coffey has agreed to provide all information about the sale provided by the SEC, the issuer, or anyone who has the security of the issuer.

That same day, Coffey exercised options to acquire the same number of shares, 15,400, at a fixed price, which is a regular financial transaction for executives who oversee compensation. These options have been in effect annually since December 2, 2015.

Investors often monitor insider activity because they can provide management information on their company’s prices. Coffey’s recent actions at Hormel Foods may be of interest to current and potential shareholders as they assess the company’s performance and internal confidence.

InvestingPro Insights

In light of recent developments in Hormel Foods Corp (NYSE:HRL), it is important to consider the impact of the company’s financial health and operating performance. Hormel Foods, with a market capitalization of $19.16 billion and a price-to-earnings (P/E) ratio of 24.11, represents a great valuation for the food industry. The adjusted P/E ratio for the last twelve months from Q1 2024 has decreased slightly to 23.48, indicating a positive change in the value of the company’s earnings.

The InvestingPro recommendation stands for Hormel Foods and its impressive track record of raising its dividend for 31 consecutive years, which is a testament to the company’s commitment to returning value to shareholders. This is also supported by the fact that Hormel has maintained its dividend for 54 consecutive years, which may be of interest to investors. For those interested in the reliability and growth of shares, these shares of Hormel’s stock are very important.

Despite a slight decrease in revenue growth over the past twelve months, down by 2.01%, the company’s profitability has been maintained at 16.58%. This shows that even though the growth of the top line has been challenged, Hormel has managed to maintain a stable profit in relation to the total revenue. In addition, the dividend yield as recently reported is 3.24%, including a dividend growth of 2.73% in the last twelve months, which strengthens the company’s attractiveness to investors.

For those looking to delve deeper into Hormel Foods’ financials and internal affairs, there are additional InvestingPro Guides available. In total, there are 9 additional tips mentioned InvestingPro of Hormel Foods, which can be found at: https://www.investing.com/pro/HRL. These guidelines provide in-depth information on the company’s financial situation and future prospects.

Interested readers can take advantage of a special offer to get this information: use the coupon code PRONEWS24 to receive an additional 10% on annual or bi-annual Pro and Pro+ subscriptions. This code provides the opportunity to stay ahead of the curve with all the financial data and analysis that can inform investment decisions.

This article was created with the help of AI and reviewed by an editor. For more information see our T&C.

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