Private Advisor Group LLC increased its stake in shares of Hormel Foods Co. (NYSE: HRL – Get Rating) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,617 shares of the company stock after buying an additional 438 shares during the quarter. Private Advisor Group LLC’s holdings in Hormel Foods were worth $ 421,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Savant Capital LLC grew its stake in Hormel Foods by 3.2% during the 4th quarter. Savant Capital LLC now owns 6,778 shares of the company stock worth $ 331,000 after buying an additional 211 shares during the last quarter. G&S Capital LLC grew its stake in shares of Hormel Foods by 3.5% in the fourth quarter. G&S Capital LLC now owns 7,126 shares of the company stock worth $ 348,000 after purchasing an additional 239 shares in the last quarter. Unison Advisors LLC grew its stake in shares of Hormel Foods by 0.8% in the fourth quarter. Unison Advisors LLC now owns 31,896 shares of the company stock worth $ 1,557,000 after purchasing an additional 239 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Hormel Foods by 61.5% in the fourth quarter. Whittier Trust Co. now owns 646 shares of the company stock worth $ 32,000 after purchasing an additional 246 shares in the last quarter. Finally, Kentucky Retirement Systems grew its stake in shares of Hormel Foods by 1.5% in the fourth quarter. Kentucky Retirement Systems now owns 16,873 shares of the company stock worth $ 824,000 after purchasing an additional 248 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company stock.
Shares of NYSE HRL opened at $ 48.28 on Thursday. Hormel Foods Co. has a 12 month low of $ 40.48 and a 12 month high of $ 55.11. The company has a market cap of $ 26.31 billion, a price-to-earnings ratio of 28.57, a P / E / G ratio of 3.16 and a beta of 0.09. The company has a quick ratio of 1.21, a current ratio of 2.19 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $ 51.65 and a 200-day simple moving average of $ 48.91.
Hormel Foods (NYSE: HRL – Get Rating) last announced its earnings results on Tuesday, March 1st. The company reported $ 0.44 EPS for the quarter, beating the consensus estimate of $ 0.43 by $ 0.01. Hormel Foods had a return on equity of 13.94% and a net margin of 7.74%. The business had revenue of $ 3.04 billion during the quarter, compared to the estimate consensus of $ 2.92 billion. During the same period in the prior year, the business posted $ 0.41 earnings per share. Hormel Foods’s revenue was up 23.7% compared to the same quarter last year. As a group, sell-side analysts expect that Hormel Foods Co. will post 1.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 11th will be paid a $ 0.26 dividend. This represents a $ 1.04 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, July 8th. Hormel Foods’s dividend payout ratio is currently 61.54%.
Several research analysts have recently issued reports on HRL shares. JPMorgan Chase & Co. increased their price target on Hormel Foods from $ 46.00 to $ 48.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. The Goldman Sachs Group cut Hormel Foods from a “neutral” rating to a “sell” rating and set a $ 44.00 price target for the company. in a research note on Tuesday, March 15th. Credit Suisse Group increased their price target on Hormel Foods from $ 44.00 to $ 46.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. Argus upgraded Hormel Foods from a “hold” rating to a “buy” rating and set a $ 57.00 price objective for the company in a report on Thursday, March 10th. Finally, StockNews.com started coverage on Hormel Foods in a report on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $ 48.33.
In other Hormel Foods news, VP Swen Neufeldt sold 960 shares of the company stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $ 51.82, for a total value of $ 49,747.20. Following the transaction, the vice president now directly owns 23,332 shares of the company stock, valued at approximately $ 1,209,064.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Luis G. Marconi sold 3,493 shares of the company stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $ 51.73, for a total value of $ 180,692.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,636 shares of company stock valued at $ 2,440,842. Company insiders own 0.78% of the company stock.
Hormel Foods Company Profile: (Get Rating)
Hormel Foods Corporation develops, processes, and distributes various meat, nuts, 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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