Directors dealings: Hilton Foods boss sells near record-high

Hilton Foods´s chief Robert Watson unloaded 50,000 shares at an indvidual price of 680p on 13 Jnauary, the company said in a statement.

Just over a week earlier, shares in the international meat packing specialist hit a record high at 704p.

On the same day that Watson decided to pack-up and sell, HSBC analyst Damian Mcneela reiterated his 'buy' recommendation on the stock and bumped up his target price from 760p to 770p.

The number cruncher highlighted the firm´s "strong track record of delivering growth from existing customers."

Mcneela believed recent deals in Portugal and Australia improved visibility on the company´s medium-term growth.

Furthermore, "with c.GBP60m of gross cash at FY 2016e we think Hilton is capable of delivering additional growth in both current and new markets. Our increased forecasts results in our TP increasing from 760p to 770p which implies 21.7% upside," he said.

The day before, Hilton Foods said it performed slightly better than it had expected in the year to 1 January thanks to growth in a number of markets and the positive impact of foreign currency translation.

Top Director Buys

Condor Gold (CNR)
Director name: Mr James(Jim) Mellon
Amount purchased: 845,000 @ 48.50p
Value: £409,825

Condor Gold (CNR)
Director name: Mr James(Jim) Mellon
Amount purchased: 395,998 @ 50.50p
Value: £199,979

Sirius Real Estate Ltd. (SRE)
Director name: Mr Alistair Marks
Amount purchased: 92,000 @ € 0.54
Value: € 49,680

Safestore Holdings (SAFE)
Director name: Mr William (Bill) Oliver
Amount purchased: 5,000 @ 342.00p
Value: £17,100

Safestore Holdings (SAFE)
Director name: Mr William (Bill) Oliver
Amount purchased: 5,000 @ 340.90p
Value: £17,045

Personal Group Holdings (PGH)
Director name: Mr Ken W Rooney
Amount purchased: 4,220 @ 354.50p
Value: £14,960

Personal Group Holdings (PGH)
Director name: Mr Ken W Rooney
Amount purchased: 4,220 @ 354.50p
Value: £14,960

Top Director Sells

Hilton Food Group (HFG)
Director name: Mr Robert Watson
Amount sold: 50,000 @ 680.00p
Value: £340,000