Mark Sheptoff Financial Planning LLC lowered its stake in Hormel Foods Corporation (NYSE:HRL) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,731 shares of the company’s stock after selling 9,451 shares during the quarter. Hormel Foods Corporation makes up approximately 3.1% of Mark Sheptoff Financial Planning LLC’s investment portfolio, making the stock its 6th largest position. Mark Sheptoff Financial Planning LLC’s holdings in Hormel Foods Corporation were worth $4,587,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of HRL. Fairpointe Capital LLC bought a new position in shares of Hormel Foods Corporation in the second quarter worth about $113,723,000. Capital International Investors lifted its holdings in shares of Hormel Foods Corporation by 16.8% in the second quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock worth $282,600,000 after acquiring an additional 1,191,000 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Hormel Foods Corporation by 264.7% in the third quarter. Principal Financial Group Inc. now owns 1,505,505 shares of the company’s stock worth $48,387,000 after acquiring an additional 1,092,714 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Hormel Foods Corporation by 44.2% in the third quarter. American Century Companies Inc. now owns 3,051,908 shares of the company’s stock worth $98,088,000 after acquiring an additional 936,053 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Hormel Foods Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock worth $1,059,004,000 after acquiring an additional 777,942 shares during the last quarter. 38.17% of the stock is owned by hedge funds and other institutional investors.

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Shares of Hormel Foods Corporation (NYSE:HRL) traded up $0.13 during midday trading on Friday, reaching $34.40. 475,227 shares of the company were exchanged, compared to its average volume of 2,377,919. The company has a market cap of $18,088.67, a price-to-earnings ratio of 21.69, a PEG ratio of 2.22 and a beta of 0.58. Hormel Foods Corporation has a 1-year low of $29.75 and a 1-year high of $37.97. The company has a current ratio of 1.91, a quick ratio of 1.37 and a debt-to-equity ratio of 0.05.

Hormel Foods Corporation (NYSE:HRL) last issued 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. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.41 billion. Hormel Foods Corporation had a net margin of 9.24% and a return on equity of 17.87%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, January 12th. This is a positive change from Hormel Foods Corporation’s previous quarterly dividend of $0.17. Hormel Foods Corporation’s dividend payout ratio (DPR) is 43.04%.

In other Hormel Foods Corporation news, Director John L. Morrison sold 24,814 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $31.81, for a total transaction of $789,333.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dakota A. Pippins sold 4,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total transaction of $126,400.00. Following the sale, the director now directly owns 92,377 shares of the company’s stock, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,518 shares of company stock valued at $6,132,366. 3.54% of the stock is owned by company insiders.

HRL has been the subject of a number of research reports. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a report on Saturday, August 26th. They issued an “outperform” rating for the company. Stephens dropped their target price on shares of Hormel Foods Corporation from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. Morgan Stanley assumed coverage on shares of Hormel Foods Corporation in a report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price objective for the company. Finally, Barclays PLC dropped their price objective on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $34.90.

Hormel Foods Corporation Company Profile

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

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