Alliancebernstein L.P. Sells 9,189 Shares of Hormel (HRL)

Alliancebernstein L.P. lowered its holdings in shares of Hormel (NYSE:HRL) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 549,436 shares of the company’s stock after selling 9,189 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of Hormel worth $19,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Hormel by 11.4% during the 4th quarter. IFP Advisors Inc now owns 14,860 shares of the company’s stock valued at $541,000 after purchasing an additional 1,525 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Hormel by 3.5% during the 4th quarter. First Republic Investment Management Inc. now owns 45,577 shares of the company’s stock valued at $1,659,000 after purchasing an additional 1,525 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Hormel by 7.2% during the 4th quarter. Cetera Advisor Networks LLC now owns 23,292 shares of the company’s stock valued at $846,000 after purchasing an additional 1,566 shares in the last quarter. Capital International Inc. CA raised its holdings in shares of Hormel by 22.5% during the 3rd quarter. Capital International Inc. CA now owns 8,700 shares of the company’s stock valued at $280,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Hormel by 1.7% during the 4th quarter. Comerica Bank now owns 102,560 shares of the company’s stock valued at $3,527,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 39.38% of the company’s stock.

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HRL traded down $0.27 during trading on Thursday, hitting $35.09. The stock had a trading volume of 3,014,601 shares, compared to its average volume of 3,027,983. The company has a market capitalization of $18,715.53, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.19 and a beta of 0.44. Hormel has a 12 month low of $29.75 and a 12 month high of $38.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.74.

Hormel (NYSE:HRL) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.43 billion. Hormel had a net margin of 9.92% and a return on equity of 17.44%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. analysts anticipate that Hormel will post 1.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.75 annualized dividend and a yield of 2.14%. Hormel’s dividend payout ratio is 47.77%.

A number of research firms have recently weighed in on HRL. Zacks Investment Research downgraded shares of Hormel from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 22nd. Barclays restated a “buy” rating and set a $38.00 price target (down previously from $40.00) on shares of Hormel in a report on Friday, February 23rd. Jefferies Group reiterated a “buy” rating on shares of Hormel in a report on Thursday, February 22nd. Credit Suisse Group reiterated a “neutral” rating on shares of Hormel in a report on Sunday, February 25th. Finally, Piper Jaffray reiterated a “buy” rating and issued a $39.00 target price on shares of Hormel in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.60.

In other Hormel news, Director Glenn S. Forbes sold 4,492 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $33.71, for a total value of $151,425.32. Following the sale, the director now directly owns 50,326 shares in the company, valued at approximately $1,696,489.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven G. Binder sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $33.40, for a total transaction of $668,000.00. Following the completion of the sale, the insider now owns 31,964 shares in the company, valued at $1,067,597.60. The disclosure for this sale can be found here. Insiders sold a total of 273,976 shares of company stock worth $9,438,312 over the last 90 days. Company insiders own 3.54% of the company’s stock.

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Hormel 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.

Institutional Ownership by Quarter for Hormel (NYSE:HRL)

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