Jefferies Group LLC lifted its position in shares of Hormel Foods Corp (NYSE:HRL) by 344.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,267 shares of the company’s stock after acquiring an additional 75,367 shares during the period. Jefferies Group LLC’s holdings in Hormel Foods were worth $3,832,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of HRL. Piedmont Investment Advisors LLC acquired a new stake in shares of Hormel Foods during the 2nd quarter valued at approximately $118,000. Dupont Capital Management Corp acquired a new stake in shares of Hormel Foods during the 2nd quarter valued at approximately $135,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Hormel Foods during the 2nd quarter valued at approximately $8,524,000. Sigma Planning Corp raised its position in shares of Hormel Foods by 25.2% during the 2nd quarter. Sigma Planning Corp now owns 19,427 shares of the company’s stock valued at $723,000 after acquiring an additional 3,915 shares in the last quarter. Finally, Global Financial Private Capital LLC raised its position in shares of Hormel Foods by 42.8% during the 2nd quarter. Global Financial Private Capital LLC now owns 17,514 shares of the company’s stock valued at $652,000 after acquiring an additional 5,253 shares in the last quarter. 42.28% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Susan K. Nestegard sold 4,517 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $45.52, for a total value of $205,613.84. Following the completion of the transaction, the director now owns 84,903 shares of the company’s stock, valued at $3,864,784.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dakota A. Pippins sold 1,750 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $39.59, for a total value of $69,282.50. Following the completion of the transaction, the director now directly owns 91,797 shares of the company’s stock, valued at approximately $3,634,243.23. The disclosure for this sale can be found here. In the last three months, insiders sold 218,161 shares of company stock valued at $9,563,359. Company insiders own 3.54% of the company’s stock.
HRL has been the subject of a number of recent research reports. Piper Jaffray Companies set a $50.00 price objective on Hormel Foods and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Credit Suisse Group set a $39.00 price objective on Hormel Foods and gave the stock a “hold” rating in a research note on Wednesday, November 21st. JPMorgan Chase & Co. initiated coverage on Hormel Foods in a research note on Friday, September 28th. They set a “neutral” rating and a $41.00 price objective for the company. ValuEngine upgraded Hormel Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Finally, Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.56.
Shares of HRL opened at $44.34 on Friday. The firm has a market cap of $23.96 billion, a P/E ratio of 23.46, a P/E/G ratio of 2.94 and a beta of 0.13. 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 Corp has a 12 month low of $31.71 and a 12 month high of $46.26.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Tuesday, November 20th. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Hormel Foods had a return on equity of 18.01% and a net margin of 10.60%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, equities analysts forecast that Hormel Foods Corp will post 1.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Monday, January 14th will be paid a $0.21 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Hormel Foods’s dividend payout ratio is presently 39.68%.
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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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