BRYN MAWR TRUST Co lowered its holdings in Hormel (NYSE:HRL) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 155,244 shares of the company’s stock after selling 2,608 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Hormel were worth $5,649,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in HRL. Victory Capital Management Inc. boosted its position in shares of Hormel by 3,639.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,421,969 shares of the company’s stock valued at $88,136,000 after purchasing an additional 2,357,198 shares during the period. Capital International Investors boosted its position in shares of Hormel by 28.4% in the 3rd quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock valued at $341,808,000 after purchasing an additional 2,350,000 shares during the period. Valueinvest Asset Management S.A. boosted its position in shares of Hormel by 29.2% in the 3rd quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock valued at $222,264,000 after purchasing an additional 1,563,700 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Hormel in the 4th quarter valued at about $20,735,000. Finally, Champlain Investment Partners LLC boosted its position in shares of Hormel by 16.6% in the 4th quarter. Champlain Investment Partners LLC now owns 3,684,235 shares of the company’s stock valued at $134,069,000 after purchasing an additional 524,325 shares during the period. Institutional investors and hedge funds own 39.38% of the company’s stock.
A number of analysts recently issued reports on HRL shares. Jefferies Group raised Hormel from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, February 14th. Credit Suisse Group decreased their target price on Hormel from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Zacks Investment Research raised Hormel from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. Piper Jaffray assumed coverage on Hormel in a research report on Thursday, January 4th. They issued an “overweight” rating and a $42.00 target price for the company. Finally, Barclays reaffirmed a “buy” rating and set a $38.00 price objective (down from $40.00) on shares of Hormel in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Hormel currently has an average rating of “Hold” and an average price target of $34.60.
In other news, Director Robert Nakasone sold 14,492 shares of the stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $35.59, for a total transaction of $515,770.28. Following the completion of the transaction, the director now directly owns 125,284 shares of the company’s stock, valued at approximately $4,458,857.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven G. Binder sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $33.40, for a total value of $668,000.00. Following the transaction, the insider now directly owns 31,964 shares of the company’s stock, valued at $1,067,597.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,976 shares of company stock valued at $9,438,312. Company insiders own 3.54% of the company’s stock.
Hormel stock traded down $0.27 during mid-day trading on Thursday, reaching $35.09. 3,014,601 shares of the company were exchanged, compared to its average volume of 3,027,983. Hormel has a twelve month low of $29.75 and a twelve month high of $38.00. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $18,715.53, a price-to-earnings ratio of 22.35, a PEG ratio of 2.19 and a beta of 0.44.
Hormel (NYSE:HRL) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. Hormel had a return on equity of 17.44% and a net margin of 9.92%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. equities analysts predict that Hormel will post 1.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 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 2.14%. The ex-dividend date of this dividend is Friday, April 13th. Hormel’s dividend payout ratio (DPR) is 47.77%.
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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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