Hormel Foods Corp (HRL) Position Decreased by Pinnacle Financial Partners Inc.

Pinnacle Financial Partners Inc. reduced its stake in shares of Hormel Foods Corp (NYSE:HRL) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,200 shares of the company’s stock after selling 2,100 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Hormel Foods were worth $626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers bought a new stake in shares of Hormel Foods during the second quarter valued at about $463,000. First Trust Advisors LP raised its stake in shares of Hormel Foods by 85.2% during 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. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Hormel Foods by 37.3% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 43,300 shares of the company’s stock valued at $1,392,000 after purchasing an additional 11,760 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Hormel Foods by 22.4% during the third quarter. Janus Henderson Group PLC now owns 96,647 shares of the company’s stock valued at $3,107,000 after purchasing an additional 17,709 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Hormel Foods during the third quarter valued at about $462,000. Institutional investors and hedge funds own 38.31% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Jefferies Group upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday. Zacks Investment Research upgraded shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. Piper Jaffray Companies assumed coverage on shares of Hormel Foods in a research note on Thursday, January 4th. They set an “overweight” rating and a $42.00 price objective on the stock. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a research note on Friday, December 1st. Finally, Mizuho set a $34.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research note on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $35.30.

In related news, Chairman James P. Snee sold 7,616 shares of Hormel Foods stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.16, for a total value of $260,162.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elsa A. Murano sold 7,129 shares of Hormel Foods stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $36.00, for a total value of $256,644.00. Following the completion of the transaction, the director now directly owns 90,991 shares in the company, valued at approximately $3,275,676. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,001 shares of company stock worth $4,612,826. 3.54% of the stock is owned by company insiders.

Shares of Hormel Foods Corp (NYSE:HRL) opened at $34.04 on Thursday. 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 1 year low of $29.75 and a 1 year high of $38.00. The company has a market cap of $17,518.67, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.07 and a beta of 0.49.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business earned $0.45 earnings per share. Hormel Foods’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities analysts anticipate that Hormel Foods Corp will post 1.71 EPS for the current year.

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, January 12th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend and a yield of 2.20%. Hormel Foods’s payout ratio is 47.47%.

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

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