Retirement Systems of Alabama reduced its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 79.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,777 shares of the company’s stock after selling 517,812 shares during the period. Retirement Systems of Alabama’s holdings in Hormel Foods Corporation were worth $4,203,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. lifted its position in Hormel Foods Corporation by 20.9% during the third quarter. Sei Investments Co. now owns 269,704 shares of the company’s stock valued at $8,668,000 after purchasing an additional 46,713 shares during the period. Grandfield & Dodd LLC lifted its position in Hormel Foods Corporation by 1.0% during the third quarter. Grandfield & Dodd LLC now owns 727,935 shares of the company’s stock valued at $23,396,000 after purchasing an additional 6,961 shares during the period. BNP Paribas Arbitrage SA lifted its position in Hormel Foods Corporation by 12.9% during the third quarter. BNP Paribas Arbitrage SA now owns 177,263 shares of the company’s stock valued at $5,697,000 after purchasing an additional 20,186 shares during the period. Global X MANAGEMENT CO LLC lifted its position in Hormel Foods Corporation by 15.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 20,601 shares of the company’s stock valued at $662,000 after purchasing an additional 2,682 shares during the period. Finally, Swiss National Bank lifted its position in Hormel Foods Corporation by 1.0% during the third quarter. Swiss National Bank now owns 1,458,694 shares of the company’s stock valued at $46,882,000 after purchasing an additional 14,600 shares during the period. Institutional investors and hedge funds own 38.17% of the company’s stock.

WARNING: This news story was originally published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.watchlistnews.com/retirement-systems-of-alabama-lowers-stake-in-hormel-foods-corporation-hrl/1721609.html.

Hormel Foods Corporation (HRL) opened at $34.27 on Thursday. Hormel Foods Corporation has a fifty-two week low of $29.75 and a fifty-two week high of $37.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.37. The firm has a market cap of $18,220.63, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 2.22 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.24% and a return on equity of 17.87%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. equities research analysts expect that Hormel Foods Corporation will post 1.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a $0.1875 dividend. This is a boost from Hormel Foods Corporation’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a yield of 2.19%. Hormel Foods Corporation’s payout ratio is presently 43.04%.

In other news, insider Donald H. Kremin sold 100,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the completion of the sale, the insider now owns 887 shares of the company’s stock, valued at $28,082.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James N. Sheehan sold 35,704 shares of the business’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 sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at approximately $1,852,200. The disclosure for this sale can be found here. Insiders sold 194,518 shares of company stock valued at $6,132,366 in the last ninety days. 3.54% of the stock is owned by corporate insiders.

HRL has been the subject of a number of research reports. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating for the company. Morgan Stanley initiated coverage on shares of Hormel Foods Corporation in a research report on Friday, November 3rd. They set an “underweight” rating and a $26.00 target price for the company. KeyCorp initiated coverage on shares of Hormel Foods Corporation in a research report on Tuesday, October 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 21st. Finally, BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One 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 company has a consensus rating of “Hold” and an average price target of $34.44.

About Hormel Foods Corporation

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.