Accident Compensation Corp increased its position in Hormel Foods Corporation (NYSE:HRL) by 56.3% during the third quarter, Holdings Channel reports. The fund owned 50,000 shares of the company’s stock after buying an additional 18,000 shares during the period. Accident Compensation Corp’s holdings in Hormel Foods Corporation were worth $1,897,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cypress Capital Management LLC WY bought a new position in shares of Hormel Foods Corporation during the second quarter worth approximately $209,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Hormel Foods Corporation by 0.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,845 shares of the company’s stock worth $1,019,000 after buying an additional 221 shares during the last quarter. Bristol Gate Capital Partners Inc. increased its position in shares of Hormel Foods Corporation by 38.0% in the second quarter. Bristol Gate Capital Partners Inc. now owns 783,965 shares of the company’s stock worth $28,693,000 after buying an additional 215,986 shares during the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Hormel Foods Corporation by 28.3% in the second quarter. Aberdeen Asset Management PLC UK now owns 316,348 shares of the company’s stock worth $11,578,000 after buying an additional 69,727 shares during the last quarter. Finally, BB&T Corp bought a new position in shares of Hormel Foods Corporation during the second quarter worth approximately $3,092,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.
Shares of Hormel Foods Corporation (NYSE:HRL) opened at 37.25 on Tuesday. The firm has a market cap of $19.70 billion, a price-to-earnings ratio of 22.71 and a beta of 0.49. The stock has a 50 day moving average price of $35.98 and a 200 day moving average price of $36.52. Hormel Foods Corporation has a one year low of $33.18 and a one year high of $45.72.
Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.01. The business earned $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Hormel Foods Corporation had a return on equity of 20.56% and a net margin of 9.35%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, equities research analysts forecast that Hormel Foods Corporation will post $1.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 17th will be given a $0.17 dividend. This is a boost from Hormel Foods Corporation’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.83%. Hormel Foods Corporation’s payout ratio is presently 41.46%.
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A number of research analysts recently commented on HRL shares. Zacks Investment Research downgraded Hormel Foods Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Credit Suisse Group set a $41.00 price objective on Hormel Foods Corporation and gave the stock a “buy” rating in a research note on Wednesday, November 23rd. BMO Capital Markets boosted their price target on Hormel Foods Corporation from $34.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 23rd. KeyCorp initiated coverage on Hormel Foods Corporation in a research report on Thursday, December 1st. They set a “sector weight” rating for the company. Finally, Piper Jaffray Companies initiated coverage on Hormel Foods Corporation in a research report on Monday, January 9th. They set an “overweight” rating and a $40.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Hormel Foods Corporation has a consensus rating of “Hold” and an average price target of $40.33.
In other Hormel Foods Corporation news, Director Robert Nakasone sold 18,502 shares of the business’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $36.03, for a total value of $666,627.06. Following the transaction, the director now owns 143,644 shares in the company, valued at $5,175,493.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James M. Splinter sold 34,262 shares of the business’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $33.94, for a total transaction of $1,162,852.28. The disclosure for this sale can be found here. Insiders sold 55,164 shares of company stock worth $1,914,055 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.
Hormel Foods Corporation Company Profile
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