Fjarde AP Fonden Fourth Swedish National Pension Fund Has $1.60 Million Stake in Hormel Foods Corporation (HRL)
Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,693 shares of the company’s stock after selling 6,399 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Hormel Foods Corporation were worth $1,597,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. MML Investors Services LLC grew its stake in Hormel Foods Corporation by 101.8% in the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock valued at $865,000 after buying an additional 12,800 shares during the last quarter. Koch Industries Inc. acquired a new position in Hormel Foods Corporation in the 2nd quarter valued at $381,000. CLS Investments LLC grew its stake in Hormel Foods Corporation by 4.7% in the 2nd quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock valued at $1,314,000 after buying an additional 1,723 shares during the last quarter. Cetera Investment Advisers acquired a new position in Hormel Foods Corporation in the 2nd quarter valued at $463,000. Finally, Financial Counselors Inc. acquired a new position in Hormel Foods Corporation in the 2nd quarter valued at $4,290,000. Institutional investors own 38.17% of the company’s stock.
Hormel Foods Corporation (NYSE:HRL) traded up $0.13 during midday trading on Friday, reaching $34.40. 475,227 shares of the company’s stock traded hands, compared to its average volume of 2,377,919. The company has a quick ratio of 1.37, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. The firm has a market cap of $18,088.67, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.58. Hormel Foods Corporation has a 52 week low of $29.75 and a 52 week high of $37.97.
Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. Hormel Foods Corporation had a net margin of 9.24% and a return on equity of 17.87%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. sell-side analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.18%. This is a positive change from Hormel Foods Corporation’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods Corporation’s dividend payout ratio (DPR) is currently 43.04%.
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A number of research analysts recently issued reports on HRL shares. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 target price on shares of Hormel Foods Corporation in a research note on Monday, November 6th. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Thursday. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Mizuho restated a “hold” rating and issued a $33.00 price target on shares of Hormel Foods Corporation in a research report on Wednesday, October 4th. Finally, Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research report on Saturday, August 26th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $34.90.
In other news, insider Steven G. Binder sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $31.23, for a total transaction of $468,450.00. Following the completion of the transaction, the insider now directly owns 26,838 shares of the company’s stock, valued at approximately $838,150.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the transaction, the vice president now directly owns 60,000 shares of the company’s stock, valued at $1,852,200. The disclosure for this sale can be found here. Insiders sold a total of 194,518 shares of company stock worth $6,132,366 over the last 90 days. Company insiders own 3.54% of the company’s stock.
Hormel Foods Corporation Company Profile
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