SG Americas Securities LLC Sells 6,966 Shares of Hormel (HRL)

SG Americas Securities LLC decreased its stake in Hormel (NYSE:HRL) by 15.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,027 shares of the company’s stock after selling 6,966 shares during the quarter. SG Americas Securities LLC’s holdings in Hormel were worth $1,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Hormel by 3,200.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock worth $120,000 after buying an additional 3,200 shares during the last quarter. Bbva Compass Bancshares Inc. purchased a new stake in shares of Hormel in the fourth quarter worth about $205,000. Two Sigma Securities LLC purchased a new stake in shares of Hormel in the fourth quarter worth about $206,000. Resources Investment Advisors Inc. purchased a new stake in shares of Hormel in the fourth quarter worth about $218,000. Finally, Ashfield Capital Partners LLC purchased a new stake in shares of Hormel in the fourth quarter worth about $218,000. Hedge funds and other institutional investors own 40.65% of the company’s stock.

In other Hormel news, insider Steven G. Binder sold 20,000 shares of the 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 completion of the transaction, the insider now owns 31,964 shares of the company’s stock, valued at $1,067,597.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark A. Coffey sold 8,000 shares of the stock in a transaction that occurred on Friday, April 13th. The shares were sold at an average price of $34.97, for a total value of $279,760.00. Following the transaction, the senior vice president now directly owns 29,011 shares of the company’s stock, valued at approximately $1,014,514.67. The disclosure for this sale can be found here. Insiders have sold 281,976 shares of company stock valued at $9,718,072 in the last three months. Insiders own 1.48% of the company’s stock.

A number of analysts have recently commented on HRL shares. Credit Suisse Group lowered their target price on Hormel from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 target price on shares of Hormel in a research note on Tuesday, February 27th. Zacks Investment Research upgraded Hormel from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. Barclays restated a “buy” rating and issued a $38.00 target price (down previously from $40.00) on shares of Hormel in a research note on Friday, February 23rd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Hormel in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $34.60.

NYSE HRL opened at $36.17 on Tuesday. The stock has a market capitalization of $19.01 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 2.19 and a beta of 0.43. Hormel has a twelve month low of $29.75 and a twelve month high of $38.00. The company has a quick ratio of 0.74, a current ratio of 1.47 and a debt-to-equity ratio of 0.12.

Hormel (NYSE:HRL) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Hormel had a return on equity of 17.44% and a net margin of 9.92%. Hormel’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. equities research analysts expect that Hormel will post 1.76 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Monday, July 16th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.07%. Hormel’s payout ratio is currently 47.77%.

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.

Institutional Ownership by Quarter for Hormel (NYSE:HRL)

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