Russell Investments Group Ltd. increased its position in Hormel Foods Corp (NYSE:HRL) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,596 shares of the company’s stock after acquiring an additional 7,788 shares during the period. Russell Investments Group Ltd.’s holdings in Hormel Foods were worth $5,483,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MML Investors Services LLC grew its holdings in shares of Hormel Foods by 101.8% in the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock worth $865,000 after acquiring an additional 12,800 shares during the period. Koch Industries Inc. acquired a new stake in shares of Hormel Foods in the 2nd quarter worth approximately $381,000. CLS Investments LLC grew its holdings in shares of Hormel Foods by 4.7% in the 2nd quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock worth $1,314,000 after acquiring an additional 1,723 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Hormel Foods in the 2nd quarter worth approximately $463,000. Finally, Financial Counselors Inc. acquired a new stake in shares of Hormel Foods in the 2nd quarter worth approximately $4,290,000. Institutional investors and hedge funds own 38.33% of the company’s stock.
In other Hormel Foods news, insider Steven G. Binder sold 15,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $32.00, for a total transaction of $480,000.00. Following the transaction, the insider now owns 26,838 shares of the company’s stock, valued at approximately $858,816. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven G. Binder sold 50,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $34.18, for a total value of $1,709,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,686 shares of company stock worth $5,625,515. Corporate insiders own 3.54% of the company’s stock.
A number of equities research analysts recently weighed in on the company. BidaskClub upgraded Hormel Foods from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Credit Suisse Group set a $33.00 price target on Hormel Foods and gave the stock a “hold” rating in a report on Friday, November 24th. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Jefferies Group set a $34.00 price target on Hormel Foods and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, Barclays lowered their target price on Hormel Foods from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.50.
Shares of Hormel Foods Corp (NYSE:HRL) traded down $0.25 during trading hours on Tuesday, reaching $36.99. The company’s stock had a trading volume of 1,803,600 shares, compared to its average volume of 2,398,582. The firm has a market cap of $19,656.32, a PE ratio of 23.57, a PEG ratio of 2.42 and a beta of 0.65. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00.
Hormel Foods (NYSE:HRL) last announced its earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. Hormel Foods’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. equities analysts anticipate that Hormel Foods Corp will post 1.65 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, January 12th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is 43.04%.
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Hormel Foods Profile
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