WINTON GROUP Ltd reduced its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 53.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,380 shares of the company’s stock after selling 25,309 shares during the period. WINTON GROUP Ltd’s holdings in Hormel Foods were worth $719,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Dupont Capital Management Corp bought a new position in shares of Hormel Foods in the third quarter worth approximately $100,000. Acrospire Investment Management LLC bought a new position in shares of Hormel Foods in the second quarter worth approximately $111,000. BB&T Investment Services Inc. bought a new position in shares of Hormel Foods in the second quarter worth approximately $118,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Hormel Foods by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Hormel Foods in the second quarter worth approximately $189,000. 38.22% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on HRL. Zacks Investment Research lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Jefferies Group set a $34.00 target price on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Thursday, November 30th. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a research report on Friday, December 1st. Mizuho set a $34.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research report on Saturday, November 25th. Finally, Credit Suisse Group set a $33.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research report on Friday, November 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Hormel Foods has an average rating of “Hold” and a consensus target price of $35.50.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. analysts predict that Hormel Foods Corp will post 1.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a yield of 2.06%. Hormel Foods’s dividend payout ratio (DPR) is 43.04%.
In other news, Director Terrell K. Crews sold 7,987 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.50, for a total value of $291,525.50. Following the sale, the director now directly owns 100,569 shares in the company, valued at approximately $3,670,768.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Nakasone sold 3,184 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $37.50, for a total transaction of $119,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 148,686 shares of company stock worth $5,145,515 in the last three months. Insiders own 3.54% of the company’s stock.
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Hormel Foods Profile
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