Schwab Charles Investment Management Inc. grew its stake in shares of Hormel Foods Corp (NYSE:HRL) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 943,370 shares of the company’s stock after buying an additional 23,512 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.18% of Hormel Foods worth $34,330,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Koch Industries Inc. purchased a new stake in Hormel Foods in the second quarter worth about $381,000. Cetera Investment Advisers purchased a new position in shares of Hormel Foods during the second quarter valued at approximately $463,000. First Trust Advisors LP lifted its holdings in shares of Hormel Foods by 85.2% during the third quarter. First Trust Advisors LP now owns 1,460,102 shares of the company’s stock valued at $46,928,000 after purchasing an additional 671,901 shares during the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of Hormel Foods by 37.3% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 43,300 shares of the company’s stock valued at $1,392,000 after purchasing an additional 11,760 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Hormel Foods by 22.4% during the third quarter. Janus Henderson Group PLC now owns 96,647 shares of the company’s stock valued at $3,107,000 after purchasing an additional 17,709 shares during the last quarter. 38.31% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Thomas R. Day sold 34,346 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $36.47, for a total transaction of $1,252,598.62. Following the completion of the sale, the insider now owns 73,770 shares of the company’s stock, valued at approximately $2,690,391.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Nakasone sold 3,184 shares of the business’s stock in a transaction 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. In the last three months, insiders have sold 131,001 shares of company stock valued at $4,612,826. Insiders own 3.54% of the company’s stock.
Hormel Foods Corp (HRL) traded up $0.27 during trading hours on Friday, reaching $34.35. 2,879,364 shares of the company’s stock were exchanged, compared to its average volume of 2,850,000. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. Hormel Foods Corp has a fifty-two week low of $29.75 and a fifty-two week high of $38.00. The company has a market cap of $18,190.00, a P/E ratio of 21.88, a PEG ratio of 2.10 and a beta of 0.49.
Hormel Foods (NYSE:HRL) last posted 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. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. equities analysts predict that Hormel Foods Corp will post 1.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th were given a dividend of $0.1875 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.18%. Hormel Foods’s payout ratio is presently 47.77%.
Several research firms have recently issued reports on HRL. Credit Suisse Group set a $33.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a report on Friday, November 24th. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a research report on Sunday, October 29th. Barclays set a $40.00 price target on shares of Hormel Foods and gave the company an “overweight” rating in a research report on Friday, December 1st. Finally, Mizuho set a $34.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a research report on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $35.30.
About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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