New York State Teachers Retirement System Sells 1,711 Shares of Hormel Foods Corporation (HRL)
New York State Teachers Retirement System trimmed its holdings in Hormel Foods Corporation (NYSE:HRL) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 444,161 shares of the company’s stock after selling 1,711 shares during the period. New York State Teachers Retirement System owned about 0.08% of Hormel Foods Corporation worth $14,275,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new position in shares of Hormel Foods Corporation during the second quarter valued at about $111,000. BB&T Investment Services Inc. purchased a new position in shares of Hormel Foods Corporation in the second quarter worth about $118,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Hormel Foods Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Hormel Foods Corporation in the second quarter worth about $189,000. Finally, Ridgewood Investments LLC purchased a new position in Hormel Foods Corporation during the second quarter valued at approximately $203,000. 38.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on HRL. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. BMO Capital Markets reissued a “buy” rating and set a $38.00 price objective on shares of Hormel Foods Corporation in a research report on Monday. Jefferies Group LLC set a $34.00 price objective on shares of Hormel Foods Corporation and gave the company a “hold” rating in a research report on Sunday, October 29th. Finally, KeyCorp assumed coverage on shares of Hormel Foods Corporation in a research report on Tuesday, October 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Hormel Foods Corporation has an average rating of “Hold” and an average target price of $34.44.
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In other Hormel Foods Corporation news, insider Donald H. Kremin sold 100,000 shares of Hormel Foods Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $31.66, for a total value of $3,166,000.00. Following the transaction, the insider now owns 887 shares in the company, valued at $28,082.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods Corporation stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $31.60, for a total value of $126,400.00. Following the completion of the transaction, the director now owns 92,377 shares in the company, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. Insiders sold 194,518 shares of company stock valued at $6,132,366 over the last 90 days. 3.54% of the stock is currently owned by corporate insiders.
Hormel Foods Corporation (HRL) opened at $31.50 on Wednesday. The firm has a market cap of $16,241.27, a price-to-earnings ratio of 18.99, a P/E/G ratio of 2.02 and a beta of 0.58. Hormel Foods Corporation has a fifty-two week low of $29.75 and a fifty-two week high of $38.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.53 and a quick ratio of 1.37.
Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. research analysts predict that Hormel Foods Corporation will post 1.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.68 annualized dividend and a dividend yield of 2.16%. Hormel Foods Corporation’s payout ratio is currently 41.98%.
Hormel Foods Corporation Company Profile
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