Private Advisor Group LLC trimmed its stake in shares of Hormel Foods Corp (NYSE:HRL) by 52.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 32,967 shares of the company’s stock after selling 36,176 shares during the quarter. Private Advisor Group LLC’s holdings in Hormel Foods were worth $1,200,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of Hormel Foods by 85.2% during the 3rd 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 period. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Hormel Foods by 37.3% during the 3rd 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 period. Janus Henderson Group PLC raised its stake in shares of Hormel Foods by 22.4% during the 3rd 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 period. US Bancorp DE raised its stake in shares of Hormel Foods by 33.2% during the 4th quarter. US Bancorp DE now owns 2,046,311 shares of the company’s stock valued at $74,466,000 after purchasing an additional 510,148 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Hormel Foods during the 3rd quarter valued at $462,000. Institutional investors own 38.65% of the company’s stock.
In other news, insider Thomas R. Day sold 34,346 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $36.47, for a total value of $1,252,598.62. Following the completion of the transaction, the insider now directly owns 73,770 shares in the company, valued at approximately $2,690,391.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary Jamison sold 4,169 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $36.48, for a total value of $152,085.12. Following the completion of the transaction, the vice president now owns 12,615 shares of the company’s stock, valued at $460,195.20. The disclosure for this sale can be found here. Insiders sold a total of 131,001 shares of company stock valued at $4,612,826 over the last quarter. Company insiders own 1.48% of the company’s stock.
Hormel Foods Corp (HRL) opened at $34.35 on Monday. 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 quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $18,191.24, a PE ratio of 21.74, a PEG ratio of 2.10 and a beta of 0.49.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. research analysts anticipate that Hormel Foods Corp will post 1.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th were issued a $0.1875 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, January 12th. Hormel Foods’s dividend payout ratio is presently 47.47%.
Several equities analysts recently commented on HRL shares. Jefferies Group set a $34.00 target price on Hormel Foods and gave the stock a “hold” rating in a research report on Sunday, October 29th. KeyCorp started coverage on Hormel Foods in a research report on Tuesday, October 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Morgan Stanley started coverage on Hormel Foods in a research report on Friday, November 3rd. They set an “underweight” rating and a $26.00 target price for the company. Finally, BMO Capital Markets restated a “buy” rating and set a $38.00 target price on shares of Hormel Foods in a research report on Monday, November 6th. 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 stock. The company has a consensus rating of “Hold” and an average target price of $35.30.
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Hormel Foods Profile
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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