Coastline Trust Co reduced its holdings in Hormel Foods Corp (NYSE:HRL) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,580 shares of the company’s stock after selling 2,900 shares during the period. Coastline Trust Co’s holdings in Hormel Foods were worth $1,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Hormel Foods by 2,838.6% in the second quarter. Pacer Advisors Inc. now owns 43,609 shares of the company’s stock worth $2,105,000 after purchasing an additional 42,125 shares during the period. Alpha Windward LLC acquired a new stake in Hormel Foods in the second quarter worth $74,000. FMR LLC raised its holdings in Hormel Foods by 34.3% in the second quarter. FMR LLC now owns 100,697 shares of the company’s stock worth $4,861,000 after purchasing an additional 25,729 shares during the period. Duality Advisers LP acquired a new stake in Hormel Foods in the second quarter worth $586,000. Finally, Advisor Group Holdings Inc. acquired a new stake in Hormel Foods in the first quarter worth $6,341,000. Institutional investors and hedge funds own 42.68% of the company’s stock.

In other news, Director Terrell K. Crews sold 11,950 shares of Hormel Foods stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $51.86, for a total value of $619,727.00. Following the completion of the transaction, the director now owns 100,638 shares of the company’s stock, valued at approximately $5,219,086.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Swen Neufeldt sold 5,271 shares of Hormel Foods stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $49.30, for a total transaction of $259,860.30. Following the completion of the transaction, the vice president now directly owns 22,931 shares of the company’s stock, valued at approximately $1,130,498.30. The disclosure for this sale can be found here. In the last three months, insiders sold 119,810 shares of company stock valued at $6,121,365. Insiders own 1.15% of the company’s stock.

Several equities research analysts have weighed in on the stock. Seaport Global Securities started coverage on shares of Hormel Foods in a report on Tuesday, September 8th. They issued a “neutral” rating on the stock. They noted that the move was a valuation call. Argus started coverage on shares of Hormel Foods in a report on Friday, July 17th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Oppenheimer restated a “hold” rating on shares of Hormel Foods in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and a consensus price target of $45.88.

Hormel Foods stock opened at $49.54 on Friday. The company has a market cap of $26.73 billion and a P/E ratio of 28.97. Hormel Foods Corp has a 1-year low of $39.01 and a 1-year high of $52.97. The company has a fifty day simple moving average of $49.69 and a 200 day simple moving average of $48.96. The company has a current ratio of 2.39, a quick ratio of 1.70 and a debt-to-equity ratio of 0.17.

Hormel Foods (NYSE:HRL) last released its earnings results on Tuesday, August 25th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.38 billion. Hormel Foods had a net margin of 9.59% and a return on equity of 15.20%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. On average, equities research analysts forecast that Hormel Foods Corp will post 1.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, October 19th will be given a $0.2325 dividend. This represents a $0.93 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, October 16th. Hormel Foods’s dividend payout ratio (DPR) is currently 53.45%.

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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, 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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