Rodgers Brothers Inc. Grows Stake in Hormel Foods Corp (HRL)

Rodgers Brothers Inc. lifted its position in Hormel Foods Corp (NYSE:HRL) by 60.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,858 shares of the company’s stock after buying an additional 7,504 shares during the period. Rodgers Brothers Inc.’s holdings in Hormel Foods were worth $638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its holdings in Hormel Foods by 0.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after buying an additional 19 shares during the last quarter. ING Groep NV increased its stake in shares of Hormel Foods by 0.4% in the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock worth $471,000 after purchasing an additional 53 shares in the last quarter. FineMark National Bank & Trust increased its stake in shares of Hormel Foods by 0.8% in the second quarter. FineMark National Bank & Trust now owns 10,506 shares of the company’s stock worth $358,000 after purchasing an additional 80 shares in the last quarter. Cadence Capital Management LLC increased its stake in shares of Hormel Foods by 1.0% in the second quarter. Cadence Capital Management LLC now owns 9,922 shares of the company’s stock worth $338,000 after purchasing an additional 98 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV increased its stake in shares of Hormel Foods by 0.6% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 17,720 shares of the company’s stock worth $605,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 38.33% of the company’s stock.

A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Jefferies Group set a $34.00 target price on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Thursday, November 30th. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Mizuho set a $34.00 target price 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 assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.50.

Hormel Foods Corp (HRL) traded down $0.17 during trading hours on Thursday, hitting $36.93. 1,382,848 shares of the stock were exchanged, compared to its average volume of 2,406,100. The company 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 quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. Hormel Foods Corp has a twelve month low of $29.75 and a twelve month high of $38.00.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.03%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s payout ratio is presently 43.04%.

In other news, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total transaction of $126,400.00. Following the completion of the transaction, the director now directly owns 92,377 shares of the company’s stock, valued at approximately $2,919,113.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Nakasone sold 3,184 shares of the business’s stock in a transaction on Monday, December 4th. The stock was 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. Over the last 90 days, insiders have sold 267,686 shares of company stock valued at $8,917,915. Company insiders own 3.54% of the company’s stock.

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Hormel Foods Company Profile

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

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