Carret Asset Management LLC trimmed its holdings in Hormel Foods Corporation (NYSE:HRL) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,274 shares of the company’s stock after selling 2,400 shares during the quarter. Carret Asset Management LLC’s holdings in Hormel Foods Corporation were worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HRL. BlackRock Inc. lifted its holdings in Hormel Foods Corporation by 1,105.9% in the 1st quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock valued at $657,673,000 after acquiring an additional 17,416,591 shares during the last quarter. State Street Corp lifted its stake in Hormel Foods Corporation by 93.3% during the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock valued at $1,042,171,000 after buying an additional 14,529,149 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Hormel Foods Corporation by 738.9% during the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock valued at $87,700,000 after buying an additional 2,230,574 shares in the last quarter. Vanguard Group Inc. lifted its stake in Hormel Foods Corporation by 5.6% during the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock valued at $1,048,207,000 after buying an additional 1,608,528 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new stake in Hormel Foods Corporation during the first quarter valued at about $50,220,000. 38.95% of the stock is owned by institutional investors.

Shares of Hormel Foods Corporation (NYSE:HRL) traded down 0.19% during trading on Friday, hitting $31.61. The stock had a trading volume of 468,931 shares. The firm has a 50 day moving average of $31.78 and a 200 day moving average of $33.59. Hormel Foods Corporation has a 1-year low of $30.50 and a 1-year high of $38.84. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 19.51 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.

A number of analysts have commented on the stock. Mizuho reaffirmed a “hold” rating and set a $33.00 price objective on shares of Hormel Foods Corporation in a research note on Wednesday. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Credit Suisse Group AG dropped coverage on shares of Hormel Foods Corporation in a research note on Saturday, August 26th. They set an “outperform” rating for the company. Barclays PLC reduced their price objective on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, August 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $38.00 price objective (down from $45.00) on shares of Hormel Foods Corporation in a research note on Friday, August 25th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Hormel Foods Corporation presently has a consensus rating of “Hold” and an average target price of $37.56.

COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/hormel-foods-corporation-hrl-shares-sold-by-carret-asset-management-llc/1613059.html.

In related news, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $32.00, for a total value of $480,000.00. Following the sale, the insider now owns 26,838 shares of the company’s stock, valued at approximately $858,816. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The disclosure for this sale can be found here. In the last three months, insiders sold 169,704 shares of company stock worth $5,343,032. 3.54% of the stock is owned by insiders.

Hormel Foods Corporation Company Profile

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corporation (NYSE:HRL).

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

Receive News & Ratings for Hormel Foods Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.