Hormel Foods Corp (HRL) Shares Bought by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of Hormel Foods Corp (NYSE:HRL) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,453,545 shares of the company’s stock after acquiring an additional 75,101 shares during the quarter. Legal & General Group Plc owned approximately 0.28% of Hormel Foods worth $46,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HRL. Louisiana State Employees Retirement System raised its holdings in shares of Hormel Foods by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock valued at $570,000 after purchasing an additional 100 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Hormel Foods by 18.4% in the second quarter. Russell Investments Group Ltd. now owns 162,808 shares of the company’s stock valued at $5,553,000 after purchasing an additional 25,319 shares during the last quarter. Strs Ohio raised its holdings in shares of Hormel Foods by 26.4% in the second quarter. Strs Ohio now owns 38,858 shares of the company’s stock valued at $1,325,000 after purchasing an additional 8,112 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Hormel Foods by 1.9% in the second quarter. Great West Life Assurance Co. Can now owns 254,869 shares of the company’s stock valued at $8,683,000 after purchasing an additional 4,874 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its holdings in shares of Hormel Foods by 23.6% in the second quarter. Rothschild Asset Management Inc. now owns 19,613 shares of the company’s stock valued at $669,000 after purchasing an additional 3,751 shares during the last quarter. 38.33% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Corp (HRL) remained flat at $$37.10 during midday trading on Thursday. The stock had a trading volume of 2,451,500 shares, compared to its average volume of 2,410,455. The firm has a market cap of $19,582.43, a PE ratio of 23.48, a P/E/G ratio of 2.41 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. Hormel Foods Corp has a 12 month low of $29.75 and a 12 month high of $38.00.

Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. analysts forecast that Hormel Foods Corp will post 1.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a $0.1875 dividend. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.75 annualized dividend and a dividend yield of 2.02%. Hormel Foods’s dividend payout ratio (DPR) is presently 43.04%.

In other news, Director Dakota A. Pippins sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total value of $126,400.00. Following the completion of the transaction, the director now directly owns 92,377 shares in the company, valued at $2,919,113.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Nakasone sold 3,184 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $37.50, for a total transaction of $119,400.00. The disclosure for this sale can be found here. Insiders sold 267,116 shares of company stock valued at $8,896,905 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

HRL has been the subject of several analyst reports. Credit Suisse Group dropped coverage on shares of Hormel Foods in a report on Saturday, August 26th. They issued an “outperform” rating for the company. Morgan Stanley initiated coverage on shares of Hormel Foods in a report on Friday, November 3rd. They set an “underweight” rating and a $26.00 price objective for the company. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the stock an “overweight” rating in a report on Friday, December 1st. KeyCorp initiated coverage on shares of Hormel Foods in a report on Tuesday, October 31st. They set a “hold” rating for the company. Finally, Mizuho set a $34.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.50.

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Hormel Foods Profile

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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