DNB Asset Management AS Boosts Holdings in Hormel Foods Corp (NYSE:HRL)

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DNB Asset Management AS lifted its stake in Hormel Foods Corp (NYSE:HRL) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,133 shares of the company’s stock after buying an additional 3,532 shares during the period. DNB Asset Management AS’s holdings in Hormel Foods were worth $1,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MUFG Americas Holdings Corp purchased a new position in shares of Hormel Foods in the 2nd quarter valued at $35,000. TRUE Private Wealth Advisors purchased a new position in shares of Hormel Foods in the 2nd quarter valued at $36,000. Dougherty Wealth Advisers LLC grew its position in shares of Hormel Foods by 350.0% in the 2nd quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of Hormel Foods by 153.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock valued at $59,000 after buying an additional 880 shares during the last quarter. Finally, Country Trust Bank grew its position in shares of Hormel Foods by 190.7% in the 2nd quarter. Country Trust Bank now owns 1,692 shares of the company’s stock valued at $69,000 after buying an additional 1,110 shares during the last quarter. 44.38% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Deanna T. Brady sold 40,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $44.03, for a total value of $1,761,200.00. Following the completion of the sale, the vice president now owns 75,172 shares in the company, valued at approximately $3,309,823.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jana L. Haynes sold 26,506 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $42.65, for a total transaction of $1,130,480.90. Following the completion of the sale, the vice president now owns 2,500 shares of the company’s stock, valued at approximately $106,625. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,670 shares of company stock valued at $5,520,877. 1.11% of the stock is owned by company insiders.

A number of research analysts recently commented on HRL shares. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Tuesday, August 27th. BMO Capital Markets set a $44.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Friday, August 23rd. Stephens set a $37.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $40.10.

Shares of NYSE:HRL opened at $40.81 on Monday. The stock has a market cap of $21.82 billion, a P/E ratio of 21.59, a P/E/G ratio of 2.77 and a beta of 0.06. The firm has a fifty day moving average price of $42.72 and a 200 day moving average price of $41.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 1.06. Hormel Foods Corp has a 1-year low of $37.00 and a 1-year high of $46.26.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. Hormel Foods’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Sell-side analysts expect that Hormel Foods Corp will post 1.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, October 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, October 18th. Hormel Foods’s dividend payout ratio is currently 44.44%.

Hormel Foods 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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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