HAP Trading LLC Purchases New Position in Hormel Foods Corporation (HRL)
HAP Trading LLC purchased a new stake in Hormel Foods Corporation (NYSE:HRL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,691 shares of the company’s stock, valued at approximately $344,000.
Other hedge funds have also modified their holdings of the company. MML Investors Services LLC increased its stake in Hormel Foods Corporation by 101.8% in the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock valued at $865,000 after buying an additional 12,800 shares during the last quarter. Koch Industries Inc. acquired a new stake in Hormel Foods Corporation in the 2nd quarter valued at $381,000. CLS Investments LLC increased its stake in Hormel Foods Corporation by 4.7% in the 2nd quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock valued at $1,314,000 after buying an additional 1,723 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Hormel Foods Corporation in the 2nd quarter valued at $463,000. Finally, Financial Counselors Inc. acquired a new stake in Hormel Foods Corporation in the 2nd quarter valued at $4,290,000. Hedge funds and other institutional investors own 38.33% of the company’s stock.
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In related news, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $31.23, for a total transaction of $468,450.00. Following the completion of the sale, the insider now owns 26,838 shares of the company’s stock, valued at approximately $838,150.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at approximately $1,852,200. The disclosure for this sale can be found here. Insiders have sold a total of 194,518 shares of company stock valued at $6,132,366 in the last ninety days. 3.54% of the stock is currently owned by insiders.
Shares of Hormel Foods Corporation (NYSE:HRL) traded up $0.19 during mid-day trading on Friday, hitting $33.12. 1,986,583 shares of the company traded hands, compared to its average volume of 2,350,466. The company has a market cap of $17,480.00, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 2.16 and a beta of 0.59. The company has a quick ratio of 1.37, a current ratio of 2.53 and a debt-to-equity ratio of 0.05. Hormel Foods Corporation has a 1-year low of $29.75 and a 1-year high of $37.97.
Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company 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 business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. equities research analysts anticipate that Hormel Foods Corporation will post 1.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, October 20th. Hormel Foods Corporation’s payout ratio is 41.98%.
Several research analysts have recently weighed in on the stock. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research note on Saturday, August 26th. They set an “outperform” rating on the stock. Morgan Stanley assumed coverage on shares of Hormel Foods Corporation in a research note on Friday, November 3rd. They set an “underweight” rating and a $26.00 price objective on the stock. KeyCorp assumed coverage on shares of Hormel Foods Corporation in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 21st. Finally, BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.44.
About Hormel Foods Corporation
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