Hormel Foods Corp (NYSE:HRL) Short Interest Update

Hormel Foods Corp (NYSE:HRL) was the recipient of a significant decrease in short interest during the month of January. As of January 12th, there was short interest totalling 27,864,782 shares, a decrease of 5.5% from the December 29th total of 29,483,369 shares. Currently, 10.3% of the shares of the stock are short sold. Based on an average daily volume of 3,257,807 shares, the short-interest ratio is currently 8.6 days.

Several brokerages recently weighed in on HRL. 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 Thursday, November 30th. Piper Jaffray Companies assumed coverage on shares of Hormel Foods in a research report on Thursday, January 4th. They issued an “overweight” rating and a $42.00 price target on the stock. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Mizuho set a $34.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research note on Saturday, November 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.30.

Hormel Foods (HRL) opened at $34.04 on Thursday. Hormel Foods has a one year low of $29.75 and a one year high of $38.00. The firm has a market cap of $18,030.00, a P/E ratio of 21.68, a P/E/G ratio of 2.07 and a beta of 0.49. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $0.45 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. equities analysts predict that Hormel Foods will post 1.71 earnings per share for the current fiscal year.

The company also recently declared 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 annualized dividend and a yield of 2.20%. 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 presently 47.77%.

In other news, Director Elsa A. Murano sold 7,129 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $36.00, for a total transaction of $256,644.00. Following the transaction, the director now owns 90,991 shares of the company’s stock, valued at approximately $3,275,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James P. Snee sold 7,616 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.16, for a total transaction of $260,162.56. The disclosure for this sale can be found here. Insiders have sold 131,001 shares of company stock valued at $4,612,826 over the last quarter. Company insiders own 1.48% of the company’s stock.

A number of large investors have recently made changes to their positions in HRL. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Hormel Foods by 11.0% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 50,611 shares of the company’s stock worth $1,841,000 after acquiring an additional 5,025 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Hormel Foods by 1.7% during the 4th quarter. Teachers Advisors LLC now owns 448,563 shares of the company’s stock worth $16,323,000 after acquiring an additional 7,599 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Hormel Foods during the 4th quarter worth $6,073,000. Two Sigma Securities LLC bought a new stake in shares of Hormel Foods during the 4th quarter worth $206,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Hormel Foods during the 4th quarter worth $336,000. 38.31% of the stock is owned by hedge funds and other institutional investors.

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About Hormel Foods

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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