Americafirst Capital Management LLC acquired a new stake in Hormel Foods Corp (NYSE:HRL) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 20,183 shares of the company’s stock, valued at approximately $649,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new position in Hormel Foods in the 3rd quarter valued at $100,000. Acrospire Investment Management LLC acquired a new position in Hormel Foods in the 2nd quarter valued at $111,000. BB&T Investment Services Inc. acquired a new position in shares of Hormel Foods during the 2nd quarter worth $118,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Hormel Foods by 0.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after buying an additional 19 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of Hormel Foods during the 2nd quarter worth $189,000. 38.33% of the stock is owned by hedge funds and other institutional investors.
In other Hormel Foods news, Director Robert Nakasone sold 3,184 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $37.50, for a total value of $119,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Morrison sold 24,814 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $31.81, for a total value of $789,333.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,686 shares of company stock valued at $5,625,515. Insiders own 3.54% of the company’s stock.
A number of equities analysts have recently commented on the company. Jefferies Group set a $34.00 price target on Hormel Foods and gave the stock a “hold” rating in a report on Thursday, November 30th. Barclays set a $40.00 price target on Hormel Foods and gave the stock an “overweight” rating in a report on Friday, December 1st. Zacks Investment Research cut Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday, December 1st. 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. Finally, Mizuho set a $34.00 price target on Hormel Foods and gave the stock a “hold” rating in a report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.50.
Shares of Hormel Foods Corp (NYSE HRL) traded up $0.13 on Thursday, reaching $37.12. The company’s stock had a trading volume of 1,219,000 shares, compared to its average volume of 2,392,984. 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 current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The firm has a market cap of $19,370.00, a PE ratio of 23.41, a PEG ratio of 2.40 and a beta of 0.65.
Hormel Foods (NYSE:HRL) last issued its earnings results 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 business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities analysts forecast that Hormel Foods Corp will post 1.65 earnings per share for the current fiscal year.
The company 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 $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.02%. 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 presently 43.31%.
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About Hormel Foods
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