Smith Moore & CO. raised its position in shares of Hormel Foods Corporation (NYSE:HRL) by 92.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,013 shares of the company’s stock after acquiring an additional 7,221 shares during the period. Smith Moore & CO.’s holdings in Hormel Foods Corporation were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. IndexIQ Advisors LLC raised its holdings in shares of Hormel Foods Corporation by 27.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 505,510 shares of the company’s stock worth $16,247,000 after acquiring an additional 107,908 shares in the last quarter. American Century Companies Inc. increased its position in shares of Hormel Foods Corporation by 44.2% during the 3rd quarter. American Century Companies Inc. now owns 3,051,908 shares of the company’s stock valued at $98,088,000 after purchasing an additional 936,053 shares during the last quarter. First Merchants Corp increased its position in shares of Hormel Foods Corporation by 3.1% during the 3rd quarter. First Merchants Corp now owns 62,476 shares of the company’s stock valued at $2,007,000 after purchasing an additional 1,850 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Hormel Foods Corporation during the 3rd quarter valued at approximately $100,000. Finally, Markel Corp increased its position in shares of Hormel Foods Corporation by 171.4% during the 3rd quarter. Markel Corp now owns 19,000 shares of the company’s stock valued at $611,000 after purchasing an additional 12,000 shares during the last quarter. 38.02% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on HRL. BMO Capital Markets reissued a “buy” rating and set a $38.00 target price on shares of Hormel Foods Corporation in a research report on Monday. Morgan Stanley began coverage on Hormel Foods Corporation in a research report on Friday. They set an “underweight” rating and a $26.00 target price on the stock. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. KeyCorp began coverage on Hormel Foods Corporation in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Finally, Jefferies Group LLC set a $34.00 target price on Hormel Foods Corporation and gave the company a “hold” rating in a research report on Sunday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.44.

In other news, 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 value of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at approximately $1,852,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dakota A. Pippins sold 4,000 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $31.60, for a total value of $126,400.00. Following the completion of the sale, the director now directly owns 92,377 shares of the company’s stock, valued at $2,919,113.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,518 shares of company stock valued at $6,132,366. Insiders own 3.54% of the company’s stock.

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Shares of Hormel Foods Corporation (HRL) traded down $0.55 during trading on Tuesday, reaching $30.77. The company’s stock had a trading volume of 2,830,952 shares, compared to its average volume of 2,550,000. The company has a market cap of $16,450.00, a P/E ratio of 19.33, a PEG ratio of 2.04 and a beta of 0.59. Hormel Foods Corporation has a 12 month low of $29.75 and a 12 month high of $38.35. The company has a quick ratio of 1.37, a current ratio of 2.53 and a debt-to-equity ratio of 0.05.

Hormel Foods Corporation (NYSE:HRL) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The business 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 revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 earnings per share. equities analysts anticipate that Hormel Foods Corporation will post 1.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.68 annualized dividend and a dividend yield of 2.21%. Hormel Foods Corporation’s dividend payout ratio is currently 41.98%.

Hormel Foods Corporation Profile

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

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