Usca Ria LLC grew its holdings in shares of Hormel (NYSE:HRL) by 39.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,233 shares of the company’s stock after buying an additional 12,703 shares during the quarter. Usca Ria LLC’s holdings in Hormel were worth $1,552,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in HRL. Victory Capital Management Inc. boosted its stake in shares of Hormel by 3,639.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,421,969 shares of the company’s stock valued at $88,136,000 after buying an additional 2,357,198 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Hormel by 77.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,669,639 shares of the company’s stock valued at $57,303,000 after buying an additional 726,269 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Hormel during the 4th quarter valued at approximately $20,735,000. Champlain Investment Partners LLC boosted its stake in shares of Hormel by 16.6% during the 4th quarter. Champlain Investment Partners LLC now owns 3,684,235 shares of the company’s stock valued at $134,069,000 after buying an additional 524,325 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Hormel by 33.2% during the 4th quarter. US Bancorp DE now owns 2,046,311 shares of the company’s stock valued at $74,466,000 after buying an additional 510,148 shares during the last quarter. Institutional investors own 39.40% of the company’s stock.
In related news, insider Steven G. Binder sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $33.40, for a total transaction of $668,000.00. Following the sale, the insider now directly owns 31,964 shares of the company’s stock, valued at approximately $1,067,597.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elsa A. Murano sold 5,992 shares of the stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $35.50, for a total value of $212,716.00. Following the completion of the sale, the director now directly owns 82,565 shares in the company, valued at $2,931,057.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,976 shares of company stock worth $9,718,072. Corporate insiders own 3.54% of the company’s stock.
Hormel (NYSE:HRL) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.43 billion. Hormel had a return on equity of 17.44% and a net margin of 9.92%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. sell-side analysts expect that Hormel will post 1.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 16th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, April 13th. Hormel’s dividend payout ratio is currently 47.77%.
Several equities analysts have recently commented on HRL shares. Zacks Investment Research cut Hormel from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Jefferies Group upgraded Hormel from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, February 14th. Barclays reiterated a “buy” rating and set a $38.00 target price (down from $40.00) on shares of Hormel in a research note on Friday, February 23rd. Credit Suisse Group reiterated a “neutral” rating on shares of Hormel in a research note on Sunday, February 25th. Finally, Piper Jaffray reiterated a “buy” rating and set a $39.00 target price on shares of Hormel in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.60.
Hormel Company Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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