APG Asset Management N.V. decreased its position in Hormel Foods Corporation (NYSE:HRL) by 46.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,750,338 shares of the company’s stock after selling 2,415,600 shares during the quarter. APG Asset Management N.V. owned 0.52% of Hormel Foods Corporation worth $88,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its stake in Hormel Foods Corporation by 8.2% in the 1st quarter. OppenheimerFunds Inc. now owns 34,692 shares of the company’s stock worth $1,201,000 after purchasing an additional 2,621 shares during the period. Wellington Management Group LLP increased its stake in Hormel Foods Corporation by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 58,830 shares of the company’s stock worth $2,037,000 after purchasing an additional 6,661 shares during the period. Teachers Advisors LLC increased its stake in Hormel Foods Corporation by 4.5% in the 1st quarter. Teachers Advisors LLC now owns 395,991 shares of the company’s stock worth $13,713,000 after purchasing an additional 16,944 shares during the period. Thrivent Financial For Lutherans increased its stake in Hormel Foods Corporation by 13.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the company’s stock worth $400,000 after purchasing an additional 1,370 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Hormel Foods Corporation by 17.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,336,211 shares of the company’s stock worth $46,270,000 after purchasing an additional 200,661 shares during the period. Institutional investors own 38.02% of the company’s stock.
In related news, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total transaction of $468,450.00. Following the sale, the insider now directly owns 26,838 shares in the company, valued at $838,150.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods Corporation stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total value of $126,400.00. Following the sale, the director now owns 92,377 shares in the company, valued at $2,919,113.20. The disclosure for this sale can be found here. Insiders have sold 194,518 shares of company stock worth $6,132,366 over the last 90 days. 3.54% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on the company. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group LLC set a $34.00 price target on Hormel Foods Corporation and gave the stock a “hold” rating in a research note on Sunday, October 29th. Barclays PLC decreased their price target on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, August 25th. Finally, Buckingham Research decreased their price target on Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Hormel Foods Corporation presently has a consensus rating of “Hold” and a consensus target price of $34.44.
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Hormel Foods Corporation (NYSE HRL) traded up $0.38 on Friday, hitting $32.33. The stock had a trading volume of 1,839,500 shares, compared to its average volume of 2,344,946. The company has a quick ratio of 1.37, a current ratio of 2.53 and a debt-to-equity ratio of 0.05. Hormel Foods Corporation has a 52-week low of $29.75 and a 52-week high of $37.97. The stock has a market capitalization of $16,864.11, a PE ratio of 19.72, a PEG ratio of 2.09 and a beta of 0.58.
Hormel Foods Corporation (NYSE:HRL) last posted its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm posted $0.36 earnings per share. Hormel Foods Corporation’s quarterly revenue was down 4.1% on a year-over-year basis. analysts forecast that Hormel Foods Corporation will post 1.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a dividend of $0.17 per share. The ex-dividend date is Friday, October 20th. This represents a $0.68 annualized dividend and a dividend yield of 2.10%. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.
Hormel Foods Corporation Company Profile
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