Hormel Foods Corp (HRL) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its stake in Hormel Foods Corp (NYSE:HRL) by 60.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,198,682 shares of the company’s stock after selling 1,853,226 shares during the period. American Century Companies Inc. owned 0.23% of Hormel Foods worth $43,620,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HRL. Victory Capital Management Inc. raised its position in Hormel Foods by 3,639.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,421,969 shares of the company’s stock valued at $88,136,000 after purchasing an additional 2,357,198 shares during the last quarter. Capital International Investors raised its position in Hormel Foods by 28.4% in the 3rd quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock valued at $341,808,000 after purchasing an additional 2,350,000 shares during the last quarter. Valueinvest Asset Management S.A. raised its position in Hormel Foods by 29.2% in the 3rd quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock valued at $222,264,000 after purchasing an additional 1,563,700 shares during the last quarter. Principal Financial Group Inc. raised its position in Hormel Foods by 264.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,505,505 shares of the company’s stock valued at $48,387,000 after purchasing an additional 1,092,714 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Hormel Foods by 85.2% in the 3rd quarter. First Trust Advisors LP now owns 1,460,102 shares of the company’s stock valued at $46,928,000 after purchasing an additional 671,901 shares during the last quarter. Institutional investors and hedge funds own 38.31% of the company’s stock.

Hormel Foods Corp (NYSE HRL) opened at $33.07 on Tuesday. The company has a market cap of $17,510.00, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.05 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. Hormel Foods Corp has a 12-month low of $29.75 and a 12-month high of $38.00.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate 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 net margin of 9.24% and a return on equity of 17.87%. 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. sell-side analysts expect that Hormel Foods Corp will post 1.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a yield of 2.27%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is presently 47.77%.

In other news, Chairman James P. Snee sold 7,616 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.16, for a total transaction of $260,162.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Nakasone sold 3,184 shares of the company’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,001 shares of company stock valued at $4,612,826. 1.48% of the stock is owned by insiders.

Several analysts recently commented on HRL shares. 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. Morgan Stanley started coverage on shares of Hormel Foods in a research report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price target for the company. 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. Credit Suisse Group set a $33.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a research report on Friday, November 24th. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Thursday, November 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus target price of $35.70.

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Hormel Foods Company Profile

Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.

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

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