Honkamp Krueger Financial Services Inc. lessened its stake in Hormel Foods Corp (NYSE:HRL) by 11.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,322 shares of the company’s stock after selling 1,450 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Hormel Foods were worth $511,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in HRL. CSat Investment Advisory L.P. grew its position in Hormel Foods by 153.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock valued at $59,000 after buying an additional 880 shares in the last quarter. National Pension Service bought a new position in Hormel Foods in the 2nd quarter valued at about $88,000. Rational Advisors LLC bought a new position in Hormel Foods in the 3rd quarter valued at about $118,000. Huntington National Bank grew its position in Hormel Foods by 9.9% in the 3rd quarter. Huntington National Bank now owns 2,967 shares of the company’s stock valued at $130,000 after buying an additional 267 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new position in Hormel Foods in the 3rd quarter valued at about $142,000. Hedge funds and other institutional investors own 43.65% of the company’s stock.
NYSE:HRL opened at $45.30 on Thursday. Hormel Foods Corp has a twelve month low of $37.00 and a twelve month high of $45.90. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $45.00 and a 200-day moving average of $42.67. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 4.27 and a beta of 0.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be given a dividend of $0.2325 per share. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, January 10th. This represents a $0.93 annualized dividend and a dividend yield of 2.05%. Hormel Foods’s dividend payout ratio (DPR) is 53.45%.
In other news, VP Lori J. Marco sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $45.08, for a total transaction of $495,880.00. Following the completion of the transaction, the vice president now owns 36,178 shares in the company, valued at approximately $1,630,904.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elsa A. Murano sold 4,519 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.70, for a total transaction of $201,999.30. Following the transaction, the director now owns 101,067 shares of the company’s stock, valued at approximately $4,517,694.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,460 shares of company stock valued at $5,304,877. Insiders own 1.15% of the company’s stock.
A number of equities analysts recently issued reports on HRL shares. Bank of America started coverage on shares of Hormel Foods in a research report on Friday, October 25th. They issued an “underperform” rating and a $40.00 target price for the company. ValuEngine lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a research report on Wednesday, November 27th. Finally, Stephens reiterated a “hold” rating and issued a $43.00 target price (up previously from $37.00) on shares of Hormel Foods in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $40.90.
Hormel Foods 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, 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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