Coastal Investment Advisors Inc. lifted its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,381 shares of the company’s stock after acquiring an additional 401 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Hormel Foods were worth $147,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. NumerixS Investment Technologies Inc acquired a new position in shares of Hormel Foods during the 2nd quarter valued at $669,000. Achmea Investment Management B.V. lifted its holdings in shares of Hormel Foods by 15.6% during the 2nd quarter. Achmea Investment Management B.V. now owns 127,036 shares of the company’s stock valued at $5,151,000 after acquiring an additional 17,172 shares in the last quarter. First Allied Advisory Services Inc. lifted its holdings in shares of Hormel Foods by 2.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 59,288 shares of the company’s stock valued at $2,404,000 after acquiring an additional 1,313 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Hormel Foods by 389.5% during the 2nd quarter. First Trust Advisors LP now owns 1,207,807 shares of the company’s stock valued at $48,964,000 after acquiring an additional 961,066 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in shares of Hormel Foods by 241.7% during the 2nd quarter. Nomura Holdings Inc. now owns 97,220 shares of the company’s stock valued at $3,980,000 after acquiring an additional 68,764 shares in the last quarter. Institutional investors and hedge funds own 44.40% of the company’s stock.
Several equities analysts recently weighed in on the stock. BMO Capital Markets set a $44.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a report on Friday, August 23rd. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Tuesday, August 27th. ValuEngine downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Stephens set a $37.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Hormel Foods presently has an average rating of “Hold” and an average target price of $40.10.
In other news, Director Terrell K. Crews sold 9,046 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $42.35, for a total value of $383,098.10. Following the completion of the sale, the director now owns 113,305 shares of the company’s stock, valued at approximately $4,798,466.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas R. Day sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $44.26, for a total transaction of $1,327,800.00. Following the completion of the sale, the executive vice president now directly owns 55,060 shares of the company’s stock, valued at approximately $2,436,955.60. The disclosure for this sale can be found here. Insiders have sold a total of 126,670 shares of company stock worth $5,520,877 in the last ninety days. 1.11% of the stock is currently owned by insiders.
Hormel Foods stock opened at $40.64 on Tuesday. Hormel Foods Corp has a 12-month low of $37.00 and a 12-month high of $46.26. The company has a market capitalization of $21.82 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 2.77 and a beta of 0.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 1.06. The firm’s fifty day moving average price is $42.62 and its 200 day moving average price is $41.34.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts forecast that Hormel Foods Corp will post 1.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, October 21st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, October 18th. Hormel Foods’s dividend payout ratio (DPR) is 44.44%.
About Hormel Foods
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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