UBS Asset Management Americas Inc. Decreases Stock Position in Hormel Foods Co. (NYSE:HRL)


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UBS Asset Management Americas Inc. decreased its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,593,663 shares of the company’s stock after selling 56,780 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.48% of Hormel Foods worth $120,891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Inspire Advisors LLC purchased a new position in shares of Hormel Foods in the 4th quarter valued at approximately $39,000. Riverbridge Partners LLC acquired a new position in Hormel Foods during the 4th quarter valued at approximately $232,000. Edgestream Partners L.P. purchased a new position in shares of Hormel Foods in the fourth quarter worth $1,245,000. Royal London Asset Management Ltd. lifted its stake in shares of Hormel Foods by 0.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 103,768 shares of the company’s stock worth $4,836,000 after buying an additional 820 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Hormel Foods during the fourth quarter valued at $269,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

HRL stock opened at $47.53 on Thursday. The company has a quick ratio of 1.67, a current ratio of 2.38 and a debt-to-equity ratio of 0.16. Hormel Foods Co. has a 52 week low of $43.45 and a 52 week high of $52.97. The stock has a market capitalization of $25.67 billion, a P/E ratio of 28.46, a P/E/G ratio of 4.14 and a beta of -0.06. The firm has a 50-day simple moving average of $47.66 and a 200-day simple moving average of $48.00.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Wednesday, February 17th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.45% and a return on equity of 14.55%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm earned $0.45 EPS. On average, analysts expect that Hormel Foods Co. will post 1.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Monday, April 12th will be issued a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, April 9th. This represents a $0.98 dividend on an annualized basis and a yield of 2.06%. Hormel Foods’s dividend payout ratio (DPR) is presently 59.04%.

Several analysts have weighed in on HRL shares. JPMorgan Chase & Co. dropped their price target on Hormel Foods from $44.00 to $40.00 in a research note on Tuesday, January 19th. Argus downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, December 9th. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a research note on Tuesday, February 23rd. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and an average target price of $47.00.

In related news, VP Gary Jamison sold 6,278 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $48.23, for a total value of $302,787.94. Following the completion of the transaction, the vice president now directly owns 11,777 shares of the company’s stock, valued at $568,004.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elsa A. Murano sold 6,000 shares of the stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $48.06, for a total transaction of $288,360.00. Following the completion of the transaction, the director now directly owns 99,469 shares in the company, valued at $4,780,480.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,678 shares of company stock valued at $6,255,814. 0.80% of the stock is currently owned by company insiders.

About Hormel Foods

Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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

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