Hilltop Holdings Inc. lifted its holdings in Hormel Foods Corp (NYSE:HRL) by 30.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,171 shares of the company’s stock after buying an additional 1,443 shares during the quarter. Hilltop Holdings Inc.’s holdings in Hormel Foods were worth $279,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Vigilant Capital Management LLC acquired a new position in Hormel Foods during the 4th quarter worth approximately $41,000. MBM Wealth Consultants LLC acquired a new stake in Hormel Foods in the fourth quarter valued at approximately $45,000. Robecosam AG grew its position in Hormel Foods by 25.2% in the fourth quarter. Robecosam AG now owns 11,747 shares of the company’s stock valued at $45,000 after acquiring an additional 2,365 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Hormel Foods by 39.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,385 shares of the company’s stock valued at $62,000 after acquiring an additional 390 shares in the last quarter. Finally, Enterprise Financial Services Corp raised its stake in shares of Hormel Foods by 53.6% during the fourth quarter. Enterprise Financial Services Corp now owns 1,619 shares of the company’s stock valued at $73,000 after purchasing an additional 565 shares during the period. 45.09% of the stock is owned by institutional investors.
In other Hormel Foods news, EVP Thomas R. Day sold 46,213 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $49.02, for a total transaction of $2,265,361.26. Following the transaction, the executive vice president now owns 79,010 shares of the company’s stock, valued at approximately $3,873,070.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Elsa A. Murano sold 4,519 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $44.70, for a total value of $201,999.30. Following the transaction, the director now directly owns 101,067 shares in the company, valued at approximately $4,517,694.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,673 shares of company stock valued at $6,348,918. 1.15% of the stock is owned by company insiders.
Shares of HRL opened at $41.94 on Thursday. The business’s 50 day moving average is $45.17 and its two-hundred day moving average is $44.10. Hormel Foods Corp has a 52-week low of $37.00 and a 52-week high of $51.53. The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 4.28 and a beta of 0.12. The company has a quick ratio of 1.31, a current ratio of 2.34 and a debt-to-equity ratio of 0.05.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.37 billion. Hormel Foods had a return on equity of 15.90% and a net margin of 10.30%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. On average, equities analysts expect that Hormel Foods Corp will post 1.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 13th will be paid a dividend of $0.2325 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $0.93 dividend on an annualized basis and a yield of 2.22%. Hormel Foods’s dividend payout ratio (DPR) is 53.45%.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a research report on Wednesday, November 27th. Cfra raised shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a report on Monday, March 9th. ValuEngine downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Goldman Sachs Group raised shares of Hormel Foods from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $45.00 in a research note on Thursday. Finally, Stephens reiterated a “hold” rating and issued a $43.00 price objective (up previously from $37.00) on shares of Hormel Foods in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Hormel Foods presently has a consensus rating of “Hold” and an average target price of $41.56.
About Hormel Foods
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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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