Victory Capital Management Inc. reduced its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 46.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,771 shares of the company’s stock after selling 55,600 shares during the quarter. Victory Capital Management Inc.’s holdings in Hormel Foods Corporation were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Crossmark Global Holdings Inc. purchased a new position in shares of Hormel Foods Corporation in the third quarter valued at $1,547,000. Benedict Financial Advisors Inc. purchased a new position in shares of Hormel Foods Corporation in the third quarter valued at $1,147,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Hormel Foods Corporation by 4.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 271,500 shares of the company’s stock valued at $8,726,000 after purchasing an additional 12,267 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Hormel Foods Corporation by 85.2% in the third quarter. First Trust Advisors LP now owns 1,460,102 shares of the company’s stock valued at $46,928,000 after purchasing an additional 671,901 shares in the last quarter. Finally, LS Investment Advisors LLC grew its holdings in shares of Hormel Foods Corporation by 5.4% in the third quarter. LS Investment Advisors LLC now owns 85,405 shares of the company’s stock valued at $2,745,000 after purchasing an additional 4,385 shares in the last quarter. 38.17% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on HRL. BMO Capital Markets reissued a “buy” rating and issued a $38.00 target price on shares of Hormel Foods Corporation in a report on Monday, November 6th. Mizuho restated a “hold” rating and issued a $33.00 price target on shares of Hormel Foods Corporation in a research report on Wednesday, October 4th. Barclays PLC lowered their price target on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, August 25th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Finally, BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Hormel Foods Corporation presently has an average rating of “Hold” and an average target price of $34.44.
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Hormel Foods Corporation (HRL) opened at $33.12 on Monday. The company has a market capitalization of $17,481.67, a price-to-earnings ratio of 20.44, a PEG ratio of 2.17 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 2.53. Hormel Foods Corporation has a 52 week low of $29.75 and a 52 week high of $37.97.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. analysts forecast that Hormel Foods Corporation will post 1.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $0.68 annualized dividend and a yield of 2.05%. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.98%.
About Hormel Foods Corporation
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