Hormel Foods Corporation (HRL) Shares Sold by Flinton Capital Management LLC
Flinton Capital Management LLC cut its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,592 shares of the company’s stock after selling 36,208 shares during the quarter. Flinton Capital Management LLC’s holdings in Hormel Foods Corporation were worth $4,045,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of HRL. BlackRock Inc. boosted its stake in Hormel Foods Corporation by 1,105.9% during the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock worth $657,673,000 after acquiring an additional 17,416,591 shares in the last quarter. State Street Corp boosted its stake in Hormel Foods Corporation by 93.3% during the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock worth $1,042,171,000 after acquiring an additional 14,529,149 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Hormel Foods Corporation by 738.9% during the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock worth $87,700,000 after acquiring an additional 2,230,574 shares in the last quarter. Vanguard Group Inc. boosted its stake in Hormel Foods Corporation by 5.6% during the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after acquiring an additional 1,608,528 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new position in Hormel Foods Corporation during the first quarter worth $50,220,000. 38.95% of the stock is currently owned by institutional investors and hedge funds.
Hormel Foods Corporation (NYSE HRL) traded up 0.06% on Thursday, hitting $31.78. 215,661 shares of the company’s stock were exchanged. Hormel Foods Corporation has a 52-week low of $30.50 and a 52-week high of $38.84. The stock has a market cap of $16.77 billion, a P/E ratio of 19.62 and a beta of 0.58. The firm has a 50 day moving average price of $31.86 and a 200-day moving average price of $33.60.
Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. Analysts predict that Hormel Foods Corporation will post $1.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.
In other news, insider Steven G. Binder sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the sale, the insider now directly owns 26,838 shares of the company’s stock, valued at approximately $858,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald H. Kremin sold 100,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was 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 directly owns 887 shares in the company, valued at $28,082.42. The disclosure for this sale can be found here. Insiders sold a total of 169,704 shares of company stock worth $5,343,032 over the last ninety days. Insiders own 3.54% of the company’s stock.
Several brokerages recently issued reports on HRL. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Mizuho reissued a “hold” rating and set a $33.00 target price on shares of Hormel Foods Corporation in a research note on Wednesday. Buckingham Research cut their target price on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 21st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Hormel Foods Corporation presently has a consensus rating of “Hold” and a consensus price target of $37.56.
About Hormel Foods Corporation
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