Honkamp Krueger Financial Services Inc. reduced its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,322 shares of the company’s stock after selling 1,450 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Hormel Foods were worth $511,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HRL. Nuveen Asset Management LLC purchased a new stake in Hormel Foods during the second quarter worth approximately $52,592,000. BlackRock Inc. grew its stake in Hormel Foods by 5.4% during the second quarter. BlackRock Inc. now owns 25,080,604 shares of the company’s stock worth $1,016,768,000 after buying an additional 1,287,994 shares during the period. Vanguard Group Inc. grew its stake in Hormel Foods by 1.6% during the second quarter. Vanguard Group Inc. now owns 33,959,615 shares of the company’s stock worth $1,376,721,000 after buying an additional 518,987 shares during the period. Man Group plc grew its stake in Hormel Foods by 155.7% during the third quarter. Man Group plc now owns 686,982 shares of the company’s stock worth $30,042,000 after buying an additional 418,356 shares during the period. Finally, California Public Employees Retirement System grew its stake in Hormel Foods by 23.2% during the second quarter. California Public Employees Retirement System now owns 2,185,832 shares of the company’s stock worth $88,614,000 after buying an additional 412,027 shares during the period. Institutional investors own 43.65% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a research note on Wednesday, November 27th. Bank of America started coverage on shares of Hormel Foods in a research note on Friday, October 25th. They set an “underperform” rating and a $40.00 price objective for the company. Finally, Stephens restated a “hold” rating and issued a $43.00 target price (up from $37.00) on shares of Hormel Foods in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $40.90.
Shares of HRL stock opened at $45.30 on Thursday. The company has a market capitalization of $24.30 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 4.27 and a beta of 0.07. The firm has a fifty day simple moving average of $45.00 and a 200-day simple moving average of $42.67. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 0.04. Hormel Foods Corp has a twelve month low of $37.00 and a twelve month high of $45.90.
Hormel Foods (NYSE:HRL) last announced its earnings results on Tuesday, November 26th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.51 billion. Hormel Foods had a net margin of 10.31% and a return on equity of 16.14%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities research analysts predict that Hormel Foods Corp will post 1.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be paid a $0.2325 dividend. The ex-dividend date is Friday, January 10th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.21. This represents a $0.93 annualized dividend and a dividend yield of 2.05%. Hormel Foods’s dividend payout ratio is 53.45%.
In related news, Director Elsa A. Murano sold 4,519 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.70, for a total value of $201,999.30. Following the sale, the director now directly owns 101,067 shares of the company’s stock, valued at $4,517,694.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howse Steve 226,215 shares of Hormel Foods stock in a transaction on Friday, October 18th. Insiders sold 118,460 shares of company stock valued at $5,304,877 over the last 90 days. Insiders own 1.15% of the company’s stock.
Hormel Foods Company Profile
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.
Read More: Trading based on a resistance level
Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corp (NYSE:HRL).
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.