LS Investment Advisors LLC boosted its position in shares of Hormel Foods Corp (NYSE:HRL) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,955 shares of the company’s stock after purchasing an additional 5,550 shares during the period. LS Investment Advisors LLC’s holdings in Hormel Foods were worth $3,310,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of HRL. FMR LLC grew its holdings in Hormel Foods by 49.2% during the 2nd quarter. FMR LLC now owns 248,038 shares of the company’s stock valued at $8,461,000 after purchasing an additional 81,812 shares during the last quarter. Suntrust Banks Inc. grew its holdings in Hormel Foods by 47.7% during the 2nd quarter. Suntrust Banks Inc. now owns 9,456 shares of the company’s stock valued at $321,000 after purchasing an additional 3,055 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Hormel Foods by 29.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,588 shares of the company’s stock valued at $59,200,000 after purchasing an additional 399,377 shares during the last quarter. Balyasny Asset Management LLC bought a new position in Hormel Foods during the 2nd quarter valued at about $773,000. Finally, Royal Bank of Canada grew its holdings in Hormel Foods by 22.7% during the 2nd quarter. Royal Bank of Canada now owns 334,388 shares of the company’s stock valued at $11,407,000 after purchasing an additional 61,767 shares during the last quarter. Institutional investors own 38.24% of the company’s stock.
In other Hormel Foods news, insider Steven G. Binder sold 50,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $34.18, for a total value of $1,709,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James P. Snee sold 7,616 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $34.16, for a total transaction of $260,162.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,001 shares of company stock valued at $4,612,826. 3.54% of the stock is owned by corporate insiders.
Shares of Hormel Foods Corp (NYSE HRL) opened at $32.81 on Friday. The stock has a market cap of $17,375.69, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.05 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00.
Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. equities research analysts anticipate that Hormel Foods Corp will post 1.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.29%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s payout ratio is 47.47%.
Hormel Foods Profile
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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