Hormel Foods Corp (NYSE:HRL) Holdings Trimmed by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in Hormel Foods Corp (NYSE:HRL) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,311 shares of the company’s stock after selling 39,989 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Hormel Foods worth $15,405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HRL. Dupont Capital Management Corp bought a new position in Hormel Foods in the 3rd quarter worth about $100,000. Acrospire Investment Management LLC bought a new position in Hormel Foods during the 2nd quarter valued at about $111,000. BB&T Investment Services Inc. bought a new position in Hormel Foods during the 2nd quarter valued at about $118,000. Bronfman E.L. Rothschild L.P. lifted its stake in 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 valued at $163,000 after acquiring an additional 19 shares during the period. Finally, Penserra Capital Management LLC bought a new position in Hormel Foods during the 2nd quarter valued at about $189,000. Institutional investors own 38.09% of the company’s stock.

In other news, Director Robert Nakasone sold 3,184 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $37.50, for a total transaction of $119,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elsa A. Murano sold 7,129 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $36.00, for a total value of $256,644.00. Following the transaction, the director now owns 90,991 shares in the company, valued at approximately $3,275,676. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,001 shares of company stock valued at $4,612,826. Corporate insiders own 3.54% of the company’s stock.

Hormel Foods Corp (HRL) traded up $0.21 during midday trading on Friday, hitting $34.55. The stock had a trading volume of 3,186,516 shares, compared to its average volume of 2,380,000. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. The company has a market cap of $18,300.00, a P/E ratio of 22.01, a P/E/G ratio of 2.21 and a beta of 0.65. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00.

Hormel Foods (NYSE:HRL) last issued its quarterly 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. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. Hormel Foods’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. equities analysts expect that Hormel Foods Corp will post 1.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.17%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. Hormel Foods’s dividend payout ratio (DPR) is 47.77%.

Several equities research analysts have recently commented on HRL shares. Mizuho reaffirmed a “hold” rating and set a $33.00 price target on shares of Hormel Foods in a research report on Wednesday, October 4th. Stephens reduced their price target on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a research report on Sunday, October 29th. KeyCorp began coverage on shares of Hormel Foods in a report on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $35.70.

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Hormel Foods Company Profile

Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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