Janney Montgomery Scott LLC lowered its stake in shares of Hormel Foods Corp (NYSE:HRL) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,047 shares of the company’s stock after selling 6,200 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Hormel Foods were worth $4,227,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its position in Hormel Foods by 17.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 172,884 shares of the company’s stock worth $6,433,000 after acquiring an additional 25,122 shares during the period. Schroder Investment Management Group lifted its position in Hormel Foods by 14.7% during the 2nd quarter. Schroder Investment Management Group now owns 100,232 shares of the company’s stock worth $3,733,000 after acquiring an additional 12,810 shares during the period. Bank of New York Mellon Corp lifted its position in Hormel Foods by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,809,511 shares of the company’s stock worth $67,331,000 after acquiring an additional 56,399 shares during the period. State of Alaska Department of Revenue lifted its position in Hormel Foods by 39.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 105,373 shares of the company’s stock worth $4,151,000 after acquiring an additional 29,703 shares during the period. Finally, Manning & Napier Group LLC lifted its position in Hormel Foods by 10.8% during the 3rd quarter. Manning & Napier Group LLC now owns 101,849 shares of the company’s stock worth $4,012,000 after acquiring an additional 9,964 shares during the period. 42.59% of the stock is currently owned by hedge funds and other institutional investors.
HRL has been the subject of a number of research reports. Piper Jaffray Companies set a $50.00 price target on Hormel Foods and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Credit Suisse Group set a $39.00 price target on Hormel Foods and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Barclays set a $40.00 price target on Hormel Foods and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Zacks Investment Research reaffirmed a “sell” rating on shares of Hormel Foods in a research report on Tuesday, November 13th. Finally, Jefferies Financial Group cut Hormel Foods from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a research report on Tuesday, November 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.56.
NYSE HRL opened at $42.94 on Monday. The stock has a market cap of $22.96 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.80 and a beta of 0.19. Hormel Foods Corp has a fifty-two week low of $31.83 and a fifty-two week high of $46.26. The company has a quick ratio of 0.95, a current ratio of 1.80 and a debt-to-equity ratio of 0.11.
Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 20th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Hormel Foods had a return on equity of 18.01% and a net margin of 10.60%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Analysts forecast that Hormel Foods Corp will post 1.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Monday, January 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, January 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.19. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.
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Hormel Foods Company Profile
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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