DekaBank Deutsche Girozentrale increased its stake in shares of Hormel Foods Co. (NYSE:HRL) by 19.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 570,628 shares of the company’s stock after acquiring an additional 94,621 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.11% of Hormel Foods worth $26,881,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. RWM Asset Management LLC acquired a new position in Hormel Foods during the 4th quarter worth approximately $25,000. Capstone Triton Financial Group LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at approximately $26,000. CX Institutional raised its position in shares of Hormel Foods by 50.1% in the 4th quarter. CX Institutional now owns 686 shares of the company’s stock valued at $32,000 after purchasing an additional 229 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Hormel Foods by 49.1% in the 4th quarter. Meeder Asset Management Inc. now owns 692 shares of the company’s stock valued at $32,000 after purchasing an additional 228 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of Hormel Foods by 1,370.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 735 shares of the company’s stock valued at $34,000 after purchasing an additional 685 shares in the last quarter. 42.78% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO James N. Sheehan sold 32,400 shares of the stock in a transaction on Friday, February 26th. The stock was sold at an average price of $46.94, for a total value of $1,520,856.00. Following the completion of the transaction, the chief financial officer now owns 48,730 shares of the company’s stock, valued at $2,287,386.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gary Jamison sold 6,278 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $48.23, for a total value of $302,787.94. Following the completion of the transaction, the vice president now directly owns 11,777 shares of the company’s stock, valued at approximately $568,004.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,678 shares of company stock valued at $6,255,814. 0.80% of the stock is owned by company insiders.
HRL has been the topic of a number of recent analyst reports. Argus lowered Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, December 9th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a research report on Tuesday, February 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Hormel Foods from $44.00 to $40.00 in a report on Tuesday, January 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.00.
Shares of NYSE HRL opened at $47.53 on Thursday. Hormel Foods Co. has a twelve month low of $43.45 and a twelve month high of $52.97. The company has a current ratio of 2.38, a quick ratio of 1.67 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $25.67 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 4.14 and a beta of -0.06. The business has a 50 day simple moving average of $47.66 and a 200-day simple moving average of $48.00.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Wednesday, February 17th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Hormel Foods had a return on equity of 14.55% and a net margin of 9.45%. During the same period in the prior year, the business earned $0.45 EPS. As a group, equities analysts predict that Hormel Foods Co. will post 1.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Monday, April 12th will be paid a dividend of $0.245 per share. The ex-dividend date is Friday, April 9th. This represents a $0.98 dividend on an annualized basis and a yield of 2.06%. Hormel Foods’s payout ratio is currently 59.04%.
Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.
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