Krueger & Catalano Capital Partners LLC Invests $1.99 Million in Hormel Foods Corp (HRL)
Krueger & Catalano Capital Partners LLC bought a new position in shares of Hormel Foods Corp (NYSE:HRL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 54,565 shares of the company’s stock, valued at approximately $1,986,000.
Other hedge funds also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new position in shares of Hormel Foods during the third quarter worth approximately $100,000. Steward Partners Investment Advisory LLC lifted its position in shares of Hormel Foods by 3,200.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock worth $120,000 after purchasing an additional 3,200 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Hormel Foods during the fourth quarter worth approximately $218,000. Resources Investment Advisors Inc. acquired a new position in shares of Hormel Foods during the fourth quarter worth approximately $218,000. Finally, Hills Bank & Trust Co. acquired a new position in shares of Hormel Foods during the fourth quarter worth approximately $224,000. Institutional investors own 38.31% of the company’s stock.
In related news, insider Thomas R. Day sold 34,346 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $36.47, for a total transaction of $1,252,598.62. Following the completion of the sale, the insider now directly owns 73,770 shares of the company’s stock, valued at $2,690,391.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven G. Binder sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $34.18, for a total transaction of $1,709,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,001 shares of company stock valued at $4,612,826. 1.48% of the stock is currently owned by insiders.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. Hormel Foods’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. analysts predict that Hormel Foods Corp will post 1.71 EPS for the current year.
The firm also recently declared 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 represents a $0.75 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. Hormel Foods’s payout ratio is 47.47%.
A number of brokerages have recently issued reports on HRL. Zacks Investment Research upgraded shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. Piper Jaffray Companies began coverage on shares of Hormel Foods in a research report on Thursday, January 4th. They set an “overweight” rating and a $42.00 target price on the stock. Jefferies Group set a $34.00 target price 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 target price on shares of Hormel Foods and gave the stock an “overweight” rating in a research report on Friday, December 1st. Finally, Mizuho set a $34.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.70.
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Hormel Foods Profile
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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