Janney Montgomery Scott LLC trimmed its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 105,247 shares of the company’s stock after selling 4,739 shares during the period. Janney Montgomery Scott LLC’s holdings in Hormel Foods were worth $4,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HRL. Principal Financial Group Inc. boosted its stake in shares of Hormel Foods by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,021,199 shares of the company’s stock valued at $69,367,000 after buying an additional 188,805 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Hormel Foods by 43.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 13,008 shares of the company’s stock valued at $484,000 after buying an additional 3,952 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Hormel Foods by 5.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 75,670 shares of the company’s stock valued at $2,814,000 after buying an additional 4,120 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Hormel Foods by 10.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 61,248 shares of the company’s stock valued at $2,279,000 after buying an additional 5,881 shares during the last quarter. Finally, Gateway Investment Advisers LLC purchased a new position in shares of Hormel Foods during the 2nd quarter valued at approximately $456,000. Institutional investors and hedge funds own 42.05% of the company’s stock.

HRL stock opened at $45.46 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12. The company has a market cap of $24.16 billion, a P/E ratio of 28.96, a PEG ratio of 2.93 and a beta of 0.14. Hormel Foods Corp has a 12-month low of $31.71 and a 12-month high of $45.66.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.38 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Sell-side analysts expect that Hormel Foods Corp will post 1.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 22nd were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, October 19th. Hormel Foods’s dividend payout ratio is currently 47.77%.

Several equities analysts have recently commented on the company. BMO Capital Markets cut Hormel Foods from an “outperform” rating to a “market perform” rating and increased their target price for the company from $38.00 to $44.00 in a research note on Monday, September 17th. They noted that the move was a valuation call. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Buckingham Research increased their target price on Hormel Foods from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 16th. ValuEngine upgraded Hormel Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Finally, Vertical Group cut Hormel Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.67.

In related news, VP Thomas R. Day sold 11,856 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $38.52, for a total transaction of $456,693.12. Following the sale, the vice president now directly owns 4,964 shares of the company’s stock, valued at approximately $191,213.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dakota A. Pippins sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $39.59, for a total value of $69,282.50. Following the sale, the director now directly owns 91,797 shares in the company, valued at $3,634,243.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,632 shares of company stock worth $5,556,981. Corporate insiders own 1.48% of the company’s stock.

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Hormel Foods Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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