Hormel Foods ($HRL) director William Newlands purchased $201,000 of company stock on October 5, marking the company's first reported open-market insider purchase since December 2024. The transaction comes as Hormel shares trade near their 52-week low and the company prepares to acquire chicken processor Brakebush Brothers for $1.06 billion.
- Newlands purchased 10,000 shares at $20.10 each, increasing his holdings by approximately 15% to 76,375 shares.
- The previous reported open-market insider purchase occurred in December 2024, when executive Steven Lykken acquired 4,904 shares for approximately $159,000.
- Hormel shares closed at $19.55 on October 7, approximately 26.5% below their June 52-week high of $26.60.
- Hormel recently announced plans to acquire Brakebush Brothers for $1.06 billion. The chicken processor generated approximately $1.2 billion in trailing annual sales.
- Hormel reported third-quarter revenue of $2.96 billion and adjusted earnings of $0.37 per share. The company lowered its fiscal 2026 sales outlook to $12.1 billion–$12.2 billion.
Relevant Companies
- Hormel Foods ($HRL) - Director purchases shares amid a planned acquisition and revised financial guidance.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
