Asset Management One Co. Ltd. increased its position in Hormel Foods Corporation (NYSE:HRL) by 1,647.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 631,034 shares of the company’s stock after buying an additional 594,920 shares during the period. Asset Management One Co. Ltd. owned about 0.12% of Hormel Foods Corporation worth $21,986,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD increased its stake in Hormel Foods Corporation by 0.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,845 shares of the company’s stock worth $1,019,000 after buying an additional 221 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in Hormel Foods Corporation by 28.3% in the second quarter. Aberdeen Asset Management PLC UK now owns 316,348 shares of the company’s stock worth $11,578,000 after buying an additional 69,727 shares in the last quarter. BB&T Corp bought a new stake in Hormel Foods Corporation during the second quarter worth approximately $3,092,000. USS Investment Management Ltd increased its stake in Hormel Foods Corporation by 6.4% in the second quarter. USS Investment Management Ltd now owns 647,098 shares of the company’s stock worth $23,693,000 after buying an additional 38,900 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Hormel Foods Corporation by 8.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 96,960 shares of the company’s stock worth $3,549,000 after buying an additional 7,669 shares in the last quarter. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Hormel Foods Corporation (NYSE:HRL) traded up 0.1608% during mid-day trading on Friday, hitting $37.2999. 1,389,815 shares of the company’s stock traded hands. Hormel Foods Corporation has a 1-year low of $33.18 and a 1-year high of $44.73. The stock has a market cap of $19.72 billion, a P/E ratio of 22.7438 and a beta of 0.49. The stock has a 50 day moving average price of $36.17 and a 200-day moving average price of $36.54.

Hormel Foods Corporation (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. Hormel Foods Corporation had a return on equity of 20.56% and a net margin of 9.35%. The firm earned $2.63 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the business earned $0.37 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Hormel Foods Corporation will post $1.71 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Tuesday, January 17th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, January 12th. This is a boost from Hormel Foods Corporation’s previous quarterly dividend of $0.15. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.46%.

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HRL has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Hormel Foods Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Credit Suisse Group set a $41.00 price objective on shares of Hormel Foods Corporation and gave the stock a “buy” rating in a report on Wednesday, November 23rd. BMO Capital Markets boosted their price objective on shares of Hormel Foods Corporation from $34.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, November 23rd. KeyCorp initiated coverage on shares of Hormel Foods Corporation in a report on Thursday, December 1st. They set a “sector weight” rating on the stock. Finally, Piper Jaffray Companies initiated coverage on shares of Hormel Foods Corporation in a report on Monday, January 9th. They set an “overweight” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $40.56.

In related news, Director Robert Nakasone sold 18,502 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $36.03, for a total value of $666,627.06. Following the sale, the director now owns 143,644 shares of the company’s stock, valued at approximately $5,175,493.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James M. Splinter sold 34,262 shares of the stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $33.94, for a total transaction of $1,162,852.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,164 shares of company stock worth $1,914,055. Corporate insiders own 3.54% of the company’s stock.

Hormel Foods Corporation Company Profile

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