Nomura Holdings Inc. Decreases Holdings in Hormel Foods Corp (NYSE:HRL)

Nomura Holdings Inc. decreased its position in shares of Hormel Foods Corp (NYSE:HRL) by 68.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,520 shares of the company’s stock after selling 66,700 shares during the quarter. Nomura Holdings Inc.’s holdings in Hormel Foods were worth $1,330,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HRL. MUFG Americas Holdings Corp purchased a new stake in shares of Hormel Foods during the 2nd quarter worth approximately $35,000. Dougherty Wealth Advisers LLC boosted its stake in shares of Hormel Foods by 350.0% during the 2nd quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock worth $36,000 after acquiring an additional 700 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of Hormel Foods during the 2nd quarter worth approximately $36,000. CSat Investment Advisory L.P. boosted its stake in shares of Hormel Foods by 153.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock worth $59,000 after acquiring an additional 880 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of Hormel Foods during the 2nd quarter worth approximately $73,000. 43.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of Hormel Foods stock opened at $44.90 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 1.19. Hormel Foods Corp has a 1 year low of $37.00 and a 1 year high of $45.84. The company has a market capitalization of $24.36 billion, a P/E ratio of 25.80, a P/E/G ratio of 4.28 and a beta of 0.08. The business has a 50 day moving average price of $42.94 and a 200 day moving average price of $42.00.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. Hormel Foods had a return on equity of 16.14% and a net margin of 10.31%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm posted $0.51 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts expect that Hormel Foods Corp will post 1.76 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a dividend of $0.2325 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.21. This represents a $0.93 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, January 10th. Hormel Foods’s payout ratio is currently 48.28%.

Several equities research analysts have recently commented on the company. BMO Capital Markets set a $44.00 price target on Hormel Foods and gave the stock a “hold” rating in a research note on Friday, August 23rd. Stephens reissued a “hold” rating and set a $43.00 price target (up previously from $37.00) on shares of Hormel Foods in a research note on Wednesday, November 27th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 price target on the stock in a research note on Wednesday, November 27th. Bank of America assumed coverage on Hormel Foods in a research note on Friday, October 25th. They set an “underperform” rating and a $40.00 price target on the stock. Finally, ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Hormel Foods has an average rating of “Hold” and an average target price of $40.90.

In related news, Director Robert Nakasone sold 3,363 shares of Hormel Foods stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $43.50, for a total transaction of $146,290.50. Following the completion of the transaction, the director now directly owns 74,459 shares in the company, valued at approximately $3,238,966.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn R. Leitch sold 16,000 shares of Hormel Foods stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $45.34, for a total value of $725,440.00. Insiders have sold a total of 43,902 shares of company stock valued at $1,956,568 over the last 90 days. Insiders own 1.11% of the company’s stock.

Hormel Foods 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, 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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