UBS Asset Management Americas Inc. lowered its position in shares of Hormel Foods Co. (NYSE:HRL) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,593,663 shares of the company’s stock after selling 56,780 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.48% of Hormel Foods worth $120,891,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Cetera Advisors LLC increased its holdings in Hormel Foods by 2.6% in the 4th quarter. Cetera Advisors LLC now owns 8,832 shares of the company’s stock worth $412,000 after buying an additional 226 shares during the period. Meeder Asset Management Inc. lifted its position in Hormel Foods by 49.1% during the fourth quarter. Meeder Asset Management Inc. now owns 692 shares of the company’s stock valued at $32,000 after purchasing an additional 228 shares during the period. CX Institutional boosted its holdings in Hormel Foods by 50.1% in the fourth quarter. CX Institutional now owns 686 shares of the company’s stock valued at $32,000 after purchasing an additional 229 shares during the last quarter. Terry L. Blaker grew its position in Hormel Foods by 0.3% during the 4th quarter. Terry L. Blaker now owns 84,988 shares of the company’s stock worth $3,961,000 after purchasing an additional 256 shares during the period. Finally, ICW Investment Advisors LLC raised its stake in shares of Hormel Foods by 0.8% during the 4th quarter. ICW Investment Advisors LLC now owns 33,640 shares of the company’s stock valued at $1,562,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.
In other Hormel Foods news, Director Elsa A. Murano sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $48.06, for a total transaction of $288,360.00. Following the completion of the sale, the director now directly owns 99,469 shares in the company, valued at approximately $4,780,480.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Gary Jamison sold 6,278 shares of the stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $48.23, for a total value of $302,787.94. Following the transaction, the vice president now directly owns 11,777 shares of the company’s stock, valued at approximately $568,004.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,678 shares of company stock valued at $6,255,814. Insiders own 0.80% of the company’s stock.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, February 17th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Hormel Foods had a net margin of 9.45% and a return on equity of 14.55%. During the same quarter last year, the company earned $0.45 EPS. On average, equities research analysts anticipate that Hormel Foods Co. will post 1.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Monday, April 12th will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, April 9th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.06%. Hormel Foods’s dividend payout ratio is currently 59.04%.
Several analysts recently commented on HRL shares. JPMorgan Chase & Co. dropped their target price on Hormel Foods from $44.00 to $40.00 in a report on Tuesday, January 19th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research note on Tuesday, February 23rd. Finally, Argus lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, December 9th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.00.
About Hormel Foods
Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.
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