551,271 Shares of Hormel Foods Corporation $HRL Acquired by First Nebraska Trust Co

First Nebraska Trust Co bought a new stake in Hormel Foods Corporation (NYSE:HRL) in the third quarter, Holdings Channel.com reports. The institutional investor bought 551,271 shares of the company’s stock, valued at approximately $10,987,000. Hormel Foods makes up approximately 0.9% of First Nebraska Trust Co’s portfolio, making the stock its 25th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the company. SlateStone Wealth LLC raised its stake in Hormel Foods by 2.3% during the 2nd quarter. SlateStone Wealth LLC now owns 17,890 shares of the company’s stock worth $444,000 after buying an additional 400 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in Hormel Foods by 1.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 39,005 shares of the company’s stock valued at $968,000 after acquiring an additional 427 shares during the period. Raiffeisen Bank International AG grew its stake in Hormel Foods by 90.7% in the second quarter. Raiffeisen Bank International AG now owns 986 shares of the company’s stock valued at $26,000 after acquiring an additional 469 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Hormel Foods by 2.1% during the second quarter. Sequoia Financial Advisors LLC now owns 23,871 shares of the company’s stock valued at $592,000 after acquiring an additional 497 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Hormel Foods by 57.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the company’s stock valued at $33,000 after acquiring an additional 531 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $21.24 on Wednesday. Hormel Foods Corporation has a fifty-two week low of $18.96 and a fifty-two week high of $26.60. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 2.44 and a beta of 0.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.88. The firm’s 50-day simple moving average is $20.70 and its 200 day simple moving average is $22.83.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.03 billion. Hormel Foods had a return on equity of 9.91% and a net margin of 2.82%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. As a group, research analysts anticipate that Hormel Foods Corporation will post 1.48 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Tuesday, October 13th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.17 annualized dividend and a dividend yield of 5.5%. Hormel Foods’s payout ratio is presently 185.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 28th. Stephens set a $23.00 target price on Hormel Foods in a report on Friday, August 28th. Barclays reissued an “overweight” rating and issued a $28.00 price target (down from $30.00) on shares of Hormel Foods in a research report on Wednesday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Finally, BNP Paribas Exane restated a “neutral” rating and set a $23.00 price target (down from $26.00) on shares of Hormel Foods in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.43.

Insider Activity

In related news, Chairman William A. Newlands purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was acquired at an average price of $20.10 per share, for a total transaction of $201,000.00. Following the completion of the acquisition, the chairman owned 76,375 shares of the company’s stock, valued at $1,535,137.50. This represents a 15.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by insiders.

Hormel Foods Profile

Hormel Foods Corporation (NYSE: HRL) is a global food company headquartered in Austin, Minnesota. Founded in 1891 by George A. Hormel, the company began as a meat-processing business and has expanded into a broad portfolio of branded food products sold through retail, foodservice and international channels.

Its products include refrigerated and shelf-stable meats, meals, snacks and other prepared foods. Hormel Foods markets products under well-known brands such as Hormel, SPAM, Jennie-O, Applegate, Columbus, Skippy and Planters, although its brand portfolio and business operations may evolve over time.