Wells Fargo & Company MN reduced its position in Hormel Foods Corp (NYSE:HRL) by 26.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 507,055 shares of the company’s stock after selling 184,037 shares during the quarter. Wells Fargo & Company MN owned approximately 0.10% of Hormel Foods worth $16,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new position in shares of Hormel Foods in the third quarter valued at $100,000. Acrospire Investment Management LLC purchased a new position in shares of Hormel Foods in the second quarter valued at $111,000. BB&T Investment Services Inc. purchased a new position in shares of Hormel Foods in the second quarter valued at $118,000. Bronfman E.L. Rothschild L.P. grew its position in shares of Hormel Foods by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after purchasing an additional 19 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Hormel Foods in the second quarter valued at $189,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on HRL. Buckingham Research reduced their price target on Hormel Foods from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, August 25th. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price target on shares of Hormel Foods in a research report on Monday, November 6th. Jefferies Group set a $34.00 price target on Hormel Foods and gave the company a “hold” rating in a research report on Thursday, November 30th. Mizuho set a $34.00 price target on Hormel Foods and gave the company a “hold” rating in a research report on Saturday, November 25th. Finally, Barclays set a $40.00 price target on Hormel Foods and gave the company an “overweight” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Hormel Foods presently has an average rating of “Hold” and a consensus target price of $35.50.

In related news, Director John L. Morrison sold 24,814 shares of Hormel Foods stock in a transaction on Friday, October 13th. The stock was sold at an average price of $31.81, for a total transaction of $789,333.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven G. Binder sold 50,000 shares of Hormel Foods stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.18, for a total value of $1,709,000.00. The disclosure for this sale can be found here. Insiders have sold 148,686 shares of company stock valued at $5,145,515 in the last three months. 3.54% of the stock is owned by corporate insiders.

Shares of Hormel Foods Corp (NYSE:HRL) opened at $36.55 on Thursday. The stock has a market capitalization of $19,434.63, a price-to-earnings ratio of 23.30, a P/E/G ratio of 2.39 and a beta of 0.65. Hormel Foods Corp has a 52 week low of $29.75 and a 52 week high of $38.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. equities analysts expect that Hormel Foods Corp will post 1.65 EPS for the current fiscal 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 paid a dividend of $0.1875 per share. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.75 annualized dividend and a yield of 2.05%. Hormel Foods’s dividend payout ratio (DPR) is currently 43.04%.

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About Hormel Foods

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

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