Raymond James Financial Services Advisors Inc. Has $8.73 Million Holdings in Hormel Foods Corporation (HRL)
Raymond James Financial Services Advisors Inc. raised its stake in Hormel Foods Corporation (NYSE:HRL) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,500 shares of the company’s stock after purchasing an additional 12,267 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.05% of Hormel Foods Corporation worth $8,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of HRL. Acrospire Investment Management LLC acquired a new stake in Hormel Foods Corporation in the 2nd quarter valued at about $111,000. BB&T Investment Services Inc. acquired a new stake in Hormel Foods Corporation in the 2nd quarter valued at about $118,000. Bronfman E.L. Rothschild L.P. raised its position in Hormel Foods Corporation by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after purchasing an additional 19 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Hormel Foods Corporation in the 2nd quarter valued at about $189,000. Finally, Ridgewood Investments LLC acquired a new stake in Hormel Foods Corporation in the 2nd quarter valued at about $203,000. 38.17% of the stock is currently owned by institutional investors.
Hormel Foods Corporation (NYSE HRL) opened at $33.12 on Monday. The company has a market capitalization of $17,481.67, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58. Hormel Foods Corporation has a 12-month low of $29.75 and a 12-month high of $37.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 2.53.
Hormel Foods Corporation (NYSE:HRL) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. equities analysts expect that Hormel Foods Corporation will post 1.56 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.98%.
A number of equities research analysts have issued reports on HRL shares. Morgan Stanley started coverage on Hormel Foods Corporation in a research report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price target on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $38.00 price target on shares of Hormel Foods Corporation in a research report on Monday, November 6th. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Mizuho reissued a “hold” rating and set a $33.00 target price on shares of Hormel Foods Corporation in a research report on Wednesday, October 4th. Finally, BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.44.
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In other Hormel Foods Corporation news, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction that occurred on 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 owns 60,000 shares of the company’s stock, valued at $1,852,200. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Morrison sold 24,814 shares of Hormel Foods Corporation stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $31.81, for a total value of $789,333.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,518 shares of company stock worth $6,132,366. 3.54% of the stock is currently owned by corporate insiders.
Hormel Foods Corporation Profile
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