Dividend Assets Capital LLC trimmed its position in Hormel Foods Corp (NYSE:HRL) by 9.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,143 shares of the company’s stock after selling 15,156 shares during the period. Hormel Foods makes up approximately 1.1% of Dividend Assets Capital LLC’s holdings, making the stock its 28th biggest holding. Dividend Assets Capital LLC’s holdings in Hormel Foods were worth $6,631,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in HRL. Martingale Asset Management L P raised its holdings in Hormel Foods by 45.9% during the 3rd quarter. Martingale Asset Management L P now owns 256,598 shares of the company’s stock worth $10,111,000 after buying an additional 80,702 shares during the period. FMR LLC raised its holdings in Hormel Foods by 2.7% during the 3rd quarter. FMR LLC now owns 46,834 shares of the company’s stock worth $1,845,000 after buying an additional 1,250 shares during the period. JPMorgan Chase & Co. raised its holdings in Hormel Foods by 34.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,311,256 shares of the company’s stock worth $51,664,000 after buying an additional 332,384 shares during the period. Kentucky Retirement Systems acquired a new stake in Hormel Foods during the 3rd quarter worth approximately $502,000. Finally, Legal & General Group Plc raised its holdings in Hormel Foods by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 1,425,942 shares of the company’s stock worth $56,182,000 after buying an additional 51,924 shares during the period. Institutional investors and hedge funds own 43.87% of the company’s stock.
NYSE:HRL opened at $39.40 on Tuesday. Hormel Foods Corp has a 1-year low of $34.12 and a 1-year high of $46.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.77. The firm has a market capitalization of $21.26 billion, a P/E ratio of 20.85, a PEG ratio of 2.63 and a beta of 0.12.
Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 21st. The company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. Hormel Foods had a net margin of 9.93% and a return on equity of 17.58%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business earned $0.56 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Hormel Foods Corp will post 1.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.13%. Hormel Foods’s dividend payout ratio is presently 44.44%.
In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.13, for a total transaction of $189,585.00. Following the completion of the transaction, the director now directly owns 101,067 shares of the company’s stock, valued at $4,257,952.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark A. Coffey sold 15,058 shares of Hormel Foods stock in a transaction on Friday, March 29th. The stock was sold at an average price of $44.64, for a total transaction of $672,189.12. Following the transaction, the senior vice president now directly owns 37,135 shares of the company’s stock, valued at $1,657,706.40. The disclosure for this sale can be found here. Insiders sold 274,705 shares of company stock valued at $12,116,336 over the last three months. 1.11% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on HRL shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $44.00 price target on shares of Hormel Foods in a research note on Thursday, February 21st. Credit Suisse Group reaffirmed a “hold” rating and set a $39.00 price target on shares of Hormel Foods in a research note on Thursday, February 21st. Zacks Investment Research raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, February 28th. Stephens started coverage on shares of Hormel Foods in a research note on Monday, March 4th. They set an “equal weight” rating for the company. Finally, ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.20.
About Hormel Foods
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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