Financial Counselors Inc. Increases Position in Hormel Foods Corp (HRL)

Financial Counselors Inc. lifted its position in Hormel Foods Corp (NYSE:HRL) by 43.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,327 shares of the company’s stock after purchasing an additional 54,553 shares during the period. Financial Counselors Inc.’s holdings in Hormel Foods were worth $5,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stifel Financial Corp boosted its holdings in shares of Hormel Foods by 1.7% in the third quarter. Stifel Financial Corp now owns 410,931 shares of the company’s stock valued at $13,188,000 after purchasing an additional 6,737 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Hormel Foods by 447.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 104,943 shares of the company’s stock worth $3,373,000 after buying an additional 85,762 shares in the last quarter. Valueinvest Asset Management S.A. raised its stake in Hormel Foods by 29.2% in the third quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock worth $222,264,000 after buying an additional 1,563,700 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Hormel Foods by 3.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 919,858 shares of the company’s stock worth $29,565,000 after buying an additional 29,067 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its stake in Hormel Foods by 8.0% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 237,353 shares of the company’s stock worth $7,628,000 after buying an additional 17,566 shares in the last quarter. Hedge funds and other institutional investors own 38.33% of the company’s stock.

Shares of Hormel Foods Corp (NYSE HRL) traded up $0.91 during mid-day trading on Tuesday, hitting $37.68. The stock had a trading volume of 3,424,300 shares, compared to its average volume of 2,410,223. The firm has a market capitalization of $19,890.00, a P/E ratio of 23.27, a PEG ratio of 2.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. Hormel Foods Corp has a 1-year low of $29.75 and a 1-year high of $37.97.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. sell-side analysts forecast that Hormel Foods Corp will post 1.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, January 12th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.99%. Hormel Foods’s dividend payout ratio is presently 43.31%.

In other news, insider Thomas R. Day sold 34,346 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $36.47, for a total transaction of $1,252,598.62. Following the transaction, the insider now directly owns 73,770 shares of the company’s stock, valued at $2,690,391.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven G. Binder sold 15,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total value of $468,450.00. Following the transaction, the insider now directly owns 26,838 shares in the company, valued at $838,150.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 278,932 shares of company stock worth $9,245,955. Insiders own 3.54% of the company’s stock.

A number of equities analysts recently commented on HRL shares. Credit Suisse Group dropped coverage on shares of Hormel Foods in a research note on Saturday, August 26th. They issued an “outperform” rating for the company. Morgan Stanley started coverage on shares of Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price objective for the company. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the stock an “overweight” rating in a research note on Friday. KeyCorp started coverage on shares of Hormel Foods in a research note on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Mizuho set a $34.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.50.

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Hormel Foods Company Profile

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

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