Cognios Capital LLC cut its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 62,104 shares of the company’s stock after selling 2,714 shares during the period. Cognios Capital LLC’s holdings in Hormel Foods were worth $2,259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HRL. Dupont Capital Management Corp bought a new stake in Hormel Foods during the 3rd quarter worth approximately $100,000. BB&T Investment Services Inc. bought a new stake in Hormel Foods during the 2nd quarter worth approximately $118,000. Steward Partners Investment Advisory LLC grew its position in Hormel Foods by 3,200.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock worth $120,000 after acquiring an additional 3,200 shares during the last quarter. Keel Point LLC grew its position in Hormel Foods by 2.5% during the 2nd quarter. Keel Point LLC now owns 5,999 shares of the company’s stock worth $205,000 after acquiring an additional 145 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in Hormel Foods during the 4th quarter worth approximately $218,000. Institutional investors and hedge funds own 38.24% of the company’s stock.

Hormel Foods Corp (HRL) opened at $32.21 on Friday. Hormel Foods Corp has a 1-year low of $29.75 and a 1-year high of $38.00. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $17,338.61, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.05 and a beta of 0.49.

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, topping the consensus estimate of $0.40 by $0.01. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities analysts expect that Hormel Foods Corp will post 1.71 earnings per share for the current 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 issued a dividend of $0.1875 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. This represents a $0.75 annualized dividend and a yield of 2.33%. Hormel Foods’s dividend payout ratio is currently 47.47%.

HRL has been the topic of a number of research analyst reports. Stephens decreased their price target on Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. Jefferies Group set a $34.00 price target on Hormel Foods and gave the stock a “hold” rating in a research report on Sunday, October 29th. KeyCorp initiated coverage on Hormel Foods in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Morgan Stanley initiated coverage on Hormel Foods in a research report on Friday, November 3rd. They set an “underweight” rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.70.

In other news, VP Gary Jamison sold 4,169 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $36.48, for a total value of $152,085.12. Following the transaction, the vice president now owns 12,615 shares of the company’s stock, valued at approximately $460,195.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman James P. Snee sold 7,616 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.16, for a total value of $260,162.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,001 shares of company stock worth $4,612,826. Company insiders own 3.54% of the company’s stock.

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About Hormel Foods

Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.

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

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