Accident Compensation Corp grew its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 43.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,600 shares of the company’s stock after buying an additional 2,600 shares during the period. Accident Compensation Corp’s holdings in Hormel Foods were worth $276,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. boosted its holdings in shares of Hormel Foods by 10.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 563,161 shares of the company’s stock valued at $18,060,000 after buying an additional 51,940 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Hormel Foods by 17.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 460,860 shares of the company’s stock valued at $14,812,000 after buying an additional 69,739 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Hormel Foods by 44.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 107,397 shares of the company’s stock valued at $3,452,000 after buying an additional 33,179 shares in the last quarter. B. Riley Financial Inc. bought a new stake in shares of Hormel Foods during the 3rd quarter valued at $367,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Hormel Foods by 6.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 44,800 shares of the company’s stock worth $1,446,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 38.33% of the company’s stock.
A number of brokerages recently issued reports on HRL. Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Thursday, November 30th. Barclays set a $40.00 price target on shares of Hormel Foods and gave the stock an “overweight” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Credit Suisse Group set a $33.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Friday, November 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Hormel Foods currently has a consensus rating of “Hold” and an average price target of $35.50.
In related news, insider Donald H. Kremin sold 100,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $31.66, for a total value of $3,166,000.00. Following the completion of the sale, the insider now directly owns 887 shares of the company’s stock, valued at approximately $28,082.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas R. Day sold 34,346 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $36.47, for a total transaction of $1,252,598.62. Following the completion of the sale, the insider now directly owns 73,770 shares of the company’s stock, valued at $2,690,391.90. The disclosure for this sale can be found here. Insiders have sold a total of 267,116 shares of company stock valued at $8,896,905 in the last ninety days. Insiders own 3.54% of the company’s stock.
Hormel Foods Corp (NYSE:HRL) remained flat at $$37.10 on Thursday. 2,451,500 shares of the stock were exchanged, compared to its average volume of 2,410,455. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The firm has a market cap of $19,582.43, a P/E ratio of 23.48, a PEG ratio of 2.41 and a beta of 0.65. Hormel Foods Corp has a 12 month low of $29.75 and a 12 month high of $38.00.
Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. sell-side analysts anticipate that Hormel Foods Corp will post 1.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.75 annualized dividend and a dividend yield of 2.02%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is presently 43.04%.
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Hormel Foods Profile
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