Swiss National Bank grew its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,458,694 shares of the company’s stock after purchasing an additional 14,600 shares during the period. Swiss National Bank owned about 276,356.78% of Hormel Foods Corporation worth $46,882,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. MML Investors Services LLC grew its position in shares of Hormel Foods Corporation by 101.8% during the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock worth $865,000 after purchasing an additional 12,800 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Hormel Foods Corporation during the 2nd quarter worth approximately $381,000. CLS Investments LLC lifted its holdings in shares of Hormel Foods Corporation by 4.7% during the 2nd quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock worth $1,314,000 after acquiring an additional 1,723 shares during the period. Cetera Investment Advisers bought a new stake in shares of Hormel Foods Corporation during the 2nd quarter worth approximately $463,000. Finally, Financial Counselors Inc. bought a new stake in shares of Hormel Foods Corporation during the 2nd quarter worth approximately $4,290,000. Hedge funds and other institutional investors own 38.33% of the company’s stock.
Hormel Foods Corporation (NYSE HRL) opened at $32.98 on Wednesday. The company has a market cap of $17,128.03, a P/E ratio of 20.03, a P/E/G ratio of 2.13 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.53 and a quick ratio of 1.37. 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 issued its quarterly earnings data on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. Hormel Foods Corporation’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. equities analysts expect that Hormel Foods Corporation will post 1.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s payout ratio is 41.98%.
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HRL has been the subject of a number of recent analyst reports. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a report on Saturday, August 26th. They set an “outperform” rating for the company. Morgan Stanley initiated coverage on shares of Hormel Foods Corporation in a report on Friday, November 3rd. They set an “underweight” rating and a $26.00 price target for the company. KeyCorp initiated coverage on shares of Hormel Foods Corporation in a report on Tuesday, October 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 21st. Finally, BidaskClub raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Hormel Foods Corporation has a consensus rating of “Hold” and a consensus price target of $34.44.
In related news, VP James N. Sheehan sold 35,704 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the transaction, the vice president now owns 60,000 shares of the company’s stock, valued at approximately $1,852,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dakota A. Pippins sold 4,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total transaction of $126,400.00. Following the completion of the transaction, the director now directly owns 92,377 shares of the company’s stock, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. In the last three months, insiders sold 194,518 shares of company stock valued at $6,132,366. 3.54% of the stock is owned by insiders.
About Hormel Foods Corporation
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