Hormel Foods Corp (NYSE:HRL) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its position in Hormel Foods Corp (NYSE:HRL) by 40.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,610 shares of the company’s stock after buying an additional 8,495 shares during the quarter. IFM Investors Pty Ltd’s holdings in Hormel Foods were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MUFG Americas Holdings Corp acquired a new position in Hormel Foods during the 2nd quarter worth $35,000. Dougherty Wealth Advisers LLC grew its stake in Hormel Foods by 350.0% during the 2nd quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Hormel Foods during the 2nd quarter worth $36,000. CSat Investment Advisory L.P. grew its stake in Hormel Foods by 153.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock worth $59,000 after purchasing an additional 880 shares in the last quarter. Finally, Country Trust Bank grew its stake in Hormel Foods by 190.7% during the 2nd quarter. Country Trust Bank now owns 1,692 shares of the company’s stock worth $69,000 after purchasing an additional 1,110 shares in the last quarter. 44.40% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Kevin L. Myers sold 2,045 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $42.80, for a total value of $87,526.00. Following the completion of the sale, the senior vice president now directly owns 13,881 shares of the company’s stock, valued at approximately $594,106.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howse Steve 226,215 shares of the business’s stock in a transaction on Friday, October 18th. Insiders sold a total of 126,670 shares of company stock valued at $5,520,877 over the last three months. Company insiders own 1.11% of the company’s stock.

Shares of NYSE:HRL traded up $0.34 on Friday, hitting $41.97. 1,133,586 shares of the company’s stock were exchanged, compared to its average volume of 2,658,405. The firm’s 50-day moving average is $41.95 and its 200 day moving average is $41.31. The company has a market capitalization of $22.22 billion, a PE ratio of 22.21, a P/E/G ratio of 2.76 and a beta of 0.04. Hormel Foods Corp has a 1-year low of $37.00 and a 1-year high of $46.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 2.09.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data 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. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, analysts anticipate that Hormel Foods Corp will post 1.73 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, October 21st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 18th. Hormel Foods’s payout ratio is currently 44.44%.

HRL has been the subject of several analyst reports. ValuEngine cut Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Stephens set a $37.00 target price on Hormel Foods and gave the stock a “hold” rating in a research note on Monday, August 12th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research report on Tuesday, August 27th. BMO Capital Markets set a $44.00 price objective on Hormel Foods and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Bank of America began coverage on Hormel Foods in a research report on Friday, October 25th. They set an “underperform” rating and a $40.00 price objective for the company. Three analysts have rated the stock with a sell rating, nine 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 a consensus price target of $40.09.

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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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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