Tandem Investment Advisors Inc. Sells 4,650 Shares of Hormel Foods Corporation (HRL)
Tandem Investment Advisors Inc. cut its position in Hormel Foods Corporation (NYSE:HRL) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,163 shares of the company’s stock after selling 4,650 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Hormel Foods Corporation were worth $2,223,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HRL. Neuberger Berman Group LLC boosted its stake in Hormel Foods Corporation by 9.9% in the 1st quarter. Neuberger Berman Group LLC now owns 49,746 shares of the company’s stock valued at $1,723,000 after purchasing an additional 4,463 shares during the period. OppenheimerFunds Inc. boosted its stake in Hormel Foods Corporation by 8.2% in the 1st quarter. OppenheimerFunds Inc. now owns 34,692 shares of the company’s stock valued at $1,201,000 after purchasing an additional 2,621 shares during the period. Principal Financial Group Inc. boosted its stake in Hormel Foods Corporation by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 427,838 shares of the company’s stock valued at $14,817,000 after purchasing an additional 2,993 shares during the period. Wellington Management Group LLP boosted its stake in Hormel Foods Corporation by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 58,830 shares of the company’s stock valued at $2,037,000 after purchasing an additional 6,661 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Hormel Foods Corporation by 4.5% in the 1st quarter. Teachers Advisors LLC now owns 395,991 shares of the company’s stock valued at $13,713,000 after purchasing an additional 16,944 shares during the period. Institutional investors and hedge funds own 38.92% of the company’s stock.
In other Hormel Foods Corporation news, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $31.60, for a total transaction of $126,400.00. Following the completion of the sale, the director now owns 92,377 shares of the company’s stock, valued at $2,919,113.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation 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 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. In the last ninety days, insiders have sold 194,518 shares of company stock valued at $6,132,366. Corporate insiders own 3.54% of the company’s stock.
Shares of Hormel Foods Corporation (HRL) traded down 0.86% during mid-day trading on Wednesday, hitting $31.24. The company had a trading volume of 1,401,258 shares. Hormel Foods Corporation has a one year low of $30.50 and a one year high of $38.84. The company’s 50-day moving average is $31.44 and its 200 day moving average is $33.45. The company has a market capitalization of $16.49 billion, a PE ratio of 19.28 and a beta of 0.58.
Hormel Foods Corporation (NYSE:HRL) last posted 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 the consensus estimate of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. Hormel Foods Corporation’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. On average, equities research analysts forecast that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is currently 41.98%.
Several analysts recently issued reports on the company. Mizuho restated a “hold” rating and issued a $33.00 price target on shares of Hormel Foods Corporation in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating for the company. Barclays PLC cut their target price on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, August 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $38.00 target price (down from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Hormel Foods Corporation has a consensus rating of “Hold” and an average target price of $37.00.
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Hormel Foods Corporation Company Profile
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