Capital Investment Advisors LLC Purchases New Position in Hormel Foods Corp (HRL)
Capital Investment Advisors LLC acquired a new stake in shares of Hormel Foods Corp (NYSE:HRL) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,951 shares of the company’s stock, valued at approximately $508,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC boosted its holdings in shares of Hormel Foods by 101.8% during the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock valued at $865,000 after acquiring an additional 12,800 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Hormel Foods during the 2nd quarter valued at $381,000. Cetera Investment Advisers acquired a new stake in shares of Hormel Foods during the 2nd quarter valued at $463,000. Nomura Holdings Inc. boosted its holdings in shares of Hormel Foods by 42.3% during the 2nd quarter. Nomura Holdings Inc. now owns 115,356 shares of the company’s stock valued at $3,934,000 after acquiring an additional 34,289 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Hormel Foods by 85.2% during the 3rd quarter. First Trust Advisors LP now owns 1,460,102 shares of the company’s stock valued at $46,928,000 after acquiring an additional 671,901 shares in the last quarter. 38.11% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on HRL shares. Morgan Stanley started coverage on Hormel Foods in a report on Friday, November 3rd. They set an “underweight” rating and a $26.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating and set a $38.00 price objective on shares of Hormel Foods in a report on Monday, November 6th. Mizuho reissued a “hold” rating and set a $33.00 price objective on shares of Hormel Foods in a report on Wednesday, October 4th. Piper Jaffray Companies started coverage on Hormel Foods in a report on Thursday, January 4th. They set an “overweight” rating and a $42.00 price objective on the stock. Finally, Stephens cut their price objective on Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. One 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 an average rating of “Hold” and an average target price of $35.70.
Hormel Foods (NYSE:HRL) last announced its earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. equities analysts anticipate that Hormel Foods Corp will post 1.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, January 12th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend and a yield of 2.19%. Hormel Foods’s payout ratio is presently 47.77%.
In other Hormel Foods news, insider Steven G. Binder sold 50,000 shares of Hormel Foods stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.18, for a total transaction of $1,709,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman James P. Snee sold 7,616 shares of Hormel Foods stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.16, for a total value of $260,162.56. The disclosure for this sale can be found here. Insiders have sold a total of 131,001 shares of company stock worth $4,612,826 over the last ninety days. Company insiders own 3.54% of the company’s stock.
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Hormel Foods Company Profile
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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