Louisiana State Employees Retirement System decreased its position in shares of Hormel Foods Corp. (NYSE:HRL) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,200 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Hormel Foods Corp. were worth $652,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in HRL. Robeco Institutional Asset Management B.V. raised its stake in Hormel Foods Corp. by 12.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,704,019 shares of the company’s stock worth $62,369,000 after buying an additional 194,459 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Hormel Foods Corp. by 23.0% in the second quarter. Daiwa Securities Group Inc. now owns 47,000 shares of the company’s stock worth $1,720,000 after buying an additional 8,800 shares during the last quarter. Shell Asset Management Co. raised its position in shares of Hormel Foods Corp. by 4.8% in the second quarter. Shell Asset Management Co. now owns 62,038 shares of the company’s stock worth $2,271,000 after buying an additional 2,857 shares in the last quarter. Financial Architects Inc raised its position in shares of Hormel Foods Corp. by 1,280.6% in the second quarter. Financial Architects Inc now owns 4,059 shares of the company’s stock worth $149,000 after buying an additional 3,765 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Hormel Foods Corp. during the second quarter worth $15,105,000. Institutional investors own 33.01% of the company’s stock.
Shares of Hormel Foods Corp. (NYSE:HRL) traded up 0.17% during midday trading on Thursday, reaching $36.23. The company had a trading volume of 2,774,470 shares. Hormel Foods Corp. has a 52 week low of $33.18 and a 52 week high of $45.72. The stock has a 50-day moving average of $34.89 and a 200 day moving average of $36.55. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 22.09 and a beta of 0.45.
Hormel Foods Corp. (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. Hormel Foods Corp. had a net margin of 9.35% and a return on equity of 20.56%. Hormel Foods Corp.’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. On average, analysts anticipate that Hormel Foods Corp. will post $1.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 17th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, January 12th. This is a boost from Hormel Foods Corp.’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.88%. Hormel Foods Corp.’s dividend payout ratio (DPR) is currently 41.46%.
HRL has been the topic of a number of research analyst reports. Vetr lowered Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price on the stock. in a research note on Monday, October 10th. Zacks Investment Research lowered Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Piper Jaffray Cos. initiated coverage on Hormel Foods Corp. in a research note on Monday, January 9th. They issued an “overweight” rating and a $40.00 target price on the stock. KeyCorp initiated coverage on Hormel Foods Corp. in a research note on Thursday, December 1st. They issued a “sector weight” rating on the stock. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $43.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, September 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Hormel Foods Corp. currently has a consensus rating of “Hold” and a consensus price target of $40.33.
In other Hormel Foods Corp. news, Director Robert Nakasone sold 18,502 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $36.03, for a total transaction of $666,627.06. Following the sale, the director now directly owns 143,644 shares of the company’s stock, valued at $5,175,493.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dakota A. Pippins sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $35.23, for a total value of $70,460.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,164 shares of company stock worth $1,914,055. Insiders own 3.54% of the company’s stock.
About Hormel Foods Corp.
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