Laurel Wealth Advisors Inc. decreased its holdings in Hormel (NYSE:HRL) by 26.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,289 shares of the company’s stock after selling 9,887 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Hormel were worth $993,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zeke Capital Advisors LLC raised its holdings in Hormel by 29.4% during the fourth quarter. Zeke Capital Advisors LLC now owns 71,235 shares of the company’s stock worth $2,592,000 after purchasing an additional 16,202 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Hormel by 98.8% in the 4th quarter. LPL Financial LLC now owns 24,329 shares of the company’s stock valued at $885,000 after acquiring an additional 12,089 shares during the period. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Hormel by 11.0% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 50,611 shares of the company’s stock valued at $1,841,000 after acquiring an additional 5,025 shares during the period. Teachers Advisors LLC increased its holdings in shares of Hormel by 1.7% in the 4th quarter. Teachers Advisors LLC now owns 448,563 shares of the company’s stock valued at $16,323,000 after acquiring an additional 7,599 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Hormel in the 4th quarter valued at $6,073,000. 39.35% of the stock is owned by institutional investors and hedge funds.
In other news, insider Larry L. Vorpahl sold 180,000 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $34.21, for a total transaction of $6,157,800.00. Following the completion of the transaction, the insider now owns 282,956 shares of the company’s stock, valued at approximately $9,679,924.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Luis G. Marconi sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $33.88, for a total transaction of $33,880.00. Following the transaction, the insider now directly owns 21,532 shares of the company’s stock, valued at approximately $729,504.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,492 shares of company stock worth $7,011,105. 3.54% of the stock is owned by insiders.
Hormel stock opened at $34.93 on Friday. The stock has a market capitalization of $18,593.73, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 2.18 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.74 and a current ratio of 1.47. Hormel has a 52 week low of $29.75 and a 52 week high of $38.00.
Hormel (NYSE:HRL) last released its earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.43 billion. Hormel had a net margin of 9.92% and a return on equity of 17.44%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. analysts forecast that Hormel will post 1.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 16th will be issued a $0.1875 dividend. The ex-dividend date is Friday, April 13th. This represents a $0.75 dividend on an annualized basis and a yield of 2.15%. Hormel’s dividend payout ratio (DPR) is 47.77%.
A number of brokerages have recently commented on HRL. Piper Jaffray initiated coverage on shares of Hormel in a report on Thursday, January 4th. They issued an “overweight” rating and a $42.00 target price on the stock. Zacks Investment Research raised shares of Hormel from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. Jefferies Group reissued a “buy” rating on shares of Hormel in a research note on Thursday, February 22nd. Credit Suisse Group decreased their target price on shares of Hormel from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Finally, Barclays restated a “buy” rating and set a $38.00 target price (down from $40.00) on shares of Hormel in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.60.
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Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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