SG Americas Securities LLC boosted its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 72.1% during the 4th quarter, Holdings Channel reports. The firm owned 43,993 shares of the company’s stock after purchasing an additional 18,431 shares during the period. SG Americas Securities LLC’s holdings in Hormel Foods were worth $1,601,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Keel Point LLC grew its position in Hormel Foods by 2.5% during the 2nd quarter. Keel Point LLC now owns 5,999 shares of the company’s stock worth $205,000 after purchasing an additional 145 shares during the last quarter. Sentry Investment Management LLC grew its position in Hormel Foods by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 20,869 shares of the company’s stock worth $712,000 after purchasing an additional 218 shares during the last quarter. Kingfisher Capital LLC grew its position in Hormel Foods by 2.8% during the 2nd quarter. Kingfisher Capital LLC now owns 30,722 shares of the company’s stock worth $1,048,000 after purchasing an additional 849 shares during the last quarter. Profund Advisors LLC grew its position in Hormel Foods by 21.9% during the 2nd quarter. Profund Advisors LLC now owns 7,601 shares of the company’s stock worth $259,000 after purchasing an additional 1,367 shares during the last quarter. Finally, Capital International Inc. CA grew its position in Hormel Foods by 22.5% during the 3rd quarter. Capital International Inc. CA now owns 8,700 shares of the company’s stock worth $280,000 after purchasing an additional 1,600 shares during the last quarter. 38.24% of the stock is currently owned by institutional investors.
Shares of Hormel Foods Corp (NYSE HRL) opened at $32.21 on Friday. The company has a market cap of $17,338.61, a PE ratio of 20.72, a P/E/G ratio of 2.05 and a beta of 0.49. Hormel Foods Corp has a fifty-two week low of $29.75 and a fifty-two week high of $38.00. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a yield of 2.33%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s payout ratio is currently 47.47%.
HRL has been the topic of several analyst reports. Stephens lowered their target price on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Jefferies Group set a $34.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a report on Sunday, October 29th. KeyCorp initiated coverage on shares of Hormel Foods in a report on Tuesday, October 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, Morgan Stanley initiated coverage on shares of Hormel Foods in a report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Hormel Foods currently has an average rating of “Hold” and an average price target of $35.70.
In other Hormel Foods news, Director Robert Nakasone sold 3,184 shares of Hormel Foods stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $37.50, for a total transaction of $119,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven G. Binder sold 50,000 shares of Hormel Foods stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.18, for a total transaction of $1,709,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,001 shares of company stock worth $4,612,826. 3.54% of the stock is owned by insiders.
About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corp (NYSE:HRL).
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.