Vident Investment Advisory LLC acquired a new position in shares of Hormel Foods Corp (NYSE:HRL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,803 shares of the company’s stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dupont Capital Management Corp purchased a new position in Hormel Foods in the 3rd quarter worth $100,000. Acrospire Investment Management LLC purchased a new position in Hormel Foods in the 2nd quarter worth $111,000. BB&T Investment Services Inc. purchased a new position in Hormel Foods in the 2nd quarter worth $118,000. Bronfman E.L. Rothschild L.P. raised its position in Hormel Foods by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in Hormel Foods in the 2nd quarter worth $189,000. 38.22% of the stock is owned by institutional investors.

HRL has been the topic of a number of analyst reports. Credit Suisse Group dropped coverage on shares of Hormel Foods in a research report on Saturday, August 26th. They issued an “outperform” rating on the stock. Morgan Stanley initiated coverage on shares of Hormel Foods in a research report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 target price on the stock. Barclays set a $40.00 target price on shares of Hormel Foods and gave the stock an “overweight” rating in a research report on Friday, December 1st. KeyCorp initiated coverage on shares of Hormel Foods in a research report on Tuesday, October 31st. They issued a “hold” rating on the stock. Finally, Mizuho set a $34.00 target price on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Saturday, November 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $35.50.

Hormel Foods Corp (NYSE HRL) opened at $37.07 on Tuesday. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00. The stock has a market cap of $19,418.80, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm had revenue of $2.49 billion for 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 company’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities research analysts expect that Hormel Foods Corp will post 1.65 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 given a $0.1875 dividend. This is a boost from Hormel Foods’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 dividend yield of 2.02%. Hormel Foods’s payout ratio is presently 43.04%.

In other Hormel Foods news, VP Gary Jamison sold 4,169 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.48, for a total value of $152,085.12. Following the transaction, the vice president now owns 12,615 shares in the company, valued at $460,195.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas R. Day sold 34,346 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.47, for a total transaction of $1,252,598.62. Following the completion of the transaction, the insider now owns 73,770 shares in the company, valued at approximately $2,690,391.90. The disclosure for this sale can be found here. Insiders sold 163,686 shares of company stock worth $5,625,515 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

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Hormel Foods Company Profile

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

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