WINTON GROUP Ltd cut its stake in Hormel Foods Corp (NYSE:HRL) by 53.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,380 shares of the company’s stock after selling 25,309 shares during the quarter. WINTON GROUP Ltd’s holdings in Hormel Foods were worth $719,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fairpointe Capital LLC purchased a new stake in Hormel Foods in the second quarter worth $113,723,000. Capital International Investors increased its stake in shares of Hormel Foods by 16.8% during the second quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock valued at $282,600,000 after buying an additional 1,191,000 shares during the period. Principal Financial Group Inc. increased its stake in shares of Hormel Foods by 264.7% during the third quarter. Principal Financial Group Inc. now owns 1,505,505 shares of the company’s stock valued at $48,387,000 after buying an additional 1,092,714 shares during the period. American Century Companies Inc. increased its stake in shares of Hormel Foods by 44.2% during the third quarter. American Century Companies Inc. now owns 3,051,908 shares of the company’s stock valued at $98,088,000 after buying an additional 936,053 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Hormel Foods by 2.6% during the second quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock valued at $1,059,004,000 after buying an additional 777,942 shares during the period. Institutional investors own 38.33% of the company’s stock.
Hormel Foods Corp (NYSE HRL) remained flat at $$37.10 during trading on Thursday. The stock had a trading volume of 2,451,500 shares, compared to its average volume of 2,410,455. 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 12-month low of $29.75 and a 12-month high of $38.00. The stock has a market cap of $19,582.43, a price-to-earnings ratio of 23.48, a P/E/G ratio of 2.41 and a beta of 0.65.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.02%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s payout ratio is presently 43.04%.
In related news, insider Donald H. Kremin sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the completion of the sale, the insider now directly owns 887 shares in the company, valued at $28,082.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dakota A. Pippins sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $31.60, for a total value of $126,400.00. Following the sale, the director now owns 92,377 shares of the company’s stock, valued at $2,919,113.20. The disclosure for this sale can be found here. Insiders have sold 267,116 shares of company stock valued at $8,896,905 over the last quarter. 3.54% of the stock is owned by company insiders.
Several equities analysts have recently commented on the company. BidaskClub upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Credit Suisse Group set a $33.00 price target on Hormel Foods and gave the company a “hold” rating in a research note on Friday, November 24th. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group set a $34.00 target price on Hormel Foods and gave the company a “hold” rating in a research note on Sunday, October 29th. Finally, Barclays cut their target price on Hormel Foods from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.50.
About Hormel Foods
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