Private Advisor Group LLC grew its stake in shares of Hormel Foods Corp (NYSE:HRL) by 4.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 69,143 shares of the company’s stock after buying an additional 2,636 shares during the period. Private Advisor Group LLC’s holdings in Hormel Foods were worth $2,162,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Counselors Inc. raised its position in shares of Hormel Foods by 43.4% during the third quarter. Financial Counselors Inc. now owns 180,327 shares of the company’s stock valued at $5,796,000 after buying an additional 54,553 shares during the last quarter. Stifel Financial Corp raised its position in shares of Hormel Foods by 1.7% during the third quarter. Stifel Financial Corp now owns 410,931 shares of the company’s stock valued at $13,188,000 after buying an additional 6,737 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Hormel Foods by 447.1% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 104,943 shares of the company’s stock valued at $3,373,000 after buying an additional 85,762 shares during the last quarter. Valueinvest Asset Management S.A. raised its position in shares of Hormel Foods by 29.2% during the third quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock valued at $222,264,000 after buying an additional 1,563,700 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Hormel Foods by 3.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 919,858 shares of the company’s stock valued at $29,565,000 after buying an additional 29,067 shares during the last quarter. 38.33% of the stock is owned by institutional investors and hedge funds.

Shares of Hormel Foods Corp (HRL) traded down $0.07 during trading on Wednesday, reaching $37.03. 524,818 shares of the company’s stock traded hands, compared to its average volume of 2,410,280. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. The company has a market capitalization of $19,888.57, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.65. Hormel Foods Corp has a 1 year low of $29.75 and a 1 year high of $38.00.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. equities 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 paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.03%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s dividend payout ratio is currently 43.04%.

HRL has been the subject of several recent research reports. Zacks Investment Research lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Thursday, November 30th. Barclays set a $40.00 price target on shares of Hormel Foods and gave the stock an “overweight” rating in a research report on Friday, December 1st. Mizuho set a $34.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Saturday, November 25th. Finally, Credit Suisse Group set a $33.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Friday, November 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Hormel Foods has a consensus rating of “Hold” and a consensus target price of $35.50.

In other Hormel Foods news, Chairman James P. Snee sold 7,616 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $34.16, for a total transaction of $260,162.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Nakasone sold 3,184 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $37.50, for a total transaction of $119,400.00. The disclosure for this sale can be found here. Insiders have sold 282,116 shares of company stock worth $9,365,355 over the last ninety days. Insiders own 3.54% of the company’s stock.

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Hormel Foods Profile

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

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