Hormel Foods Co. (NYSE:HRL) Shares Sold by Ieq Capital LLC

Ieq Capital LLC reduced its position in shares of Hormel Foods Co. (NYSE:HRLFree Report) by 30.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,499 shares of the company’s stock after selling 3,240 shares during the period. Ieq Capital LLC’s holdings in Hormel Foods were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Hormel Foods by 36.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 47,343 shares of the company’s stock worth $1,520,000 after acquiring an additional 12,756 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Hormel Foods by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,450,447 shares of the company’s stock valued at $78,679,000 after purchasing an additional 56,189 shares during the period. Jump Financial LLC increased its stake in Hormel Foods by 1,170.1% in the 4th quarter. Jump Financial LLC now owns 67,300 shares of the company’s stock worth $2,161,000 after purchasing an additional 62,001 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in Hormel Foods during the 4th quarter worth about $1,181,000. Finally, AGF Management Ltd. lifted its stake in Hormel Foods by 26.9% during the fourth quarter. AGF Management Ltd. now owns 13,247 shares of the company’s stock valued at $425,000 after buying an additional 2,808 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HRL shares. The Goldman Sachs Group boosted their price target on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a report on Friday, March 1st. Barclays increased their target price on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Citigroup began coverage on Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.00.

Check Out Our Latest Report on HRL

Insiders Place Their Bets

In other news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total transaction of $539,000.00. Following the transaction, the vice president now owns 68,029 shares in the company, valued at approximately $2,381,015. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the transaction, the senior vice president now owns 38,708 shares in the company, valued at $1,352,844.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mark A. Coffey sold 15,400 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the sale, the vice president now owns 68,029 shares of the company’s stock, valued at $2,381,015. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock valued at $1,414,872 over the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Hormel Foods Trading Up 0.6 %

NYSE HRL opened at $36.31 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $41.73. The firm’s fifty day simple moving average is $34.89 and its 200-day simple moving average is $32.72. The company has a market capitalization of $19.89 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 3.50 and a beta of 0.28.

Hormel Foods (NYSE:HRLGet Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.91 billion. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The business’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. As a group, sell-side analysts anticipate that Hormel Foods Co. will post 1.59 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th were paid a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

About Hormel Foods

(Free Report)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.

See Also

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

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