Harfst & Associates Inc. Boosts Stake in Hormel Foods Corp (HRL)

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Harfst & Associates Inc. grew its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 7.8% in the 4th quarter, HoldingsChannel reports. The firm owned 12,646 shares of the company’s stock after purchasing an additional 913 shares during the period. Harfst & Associates Inc.’s holdings in Hormel Foods were worth $539,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HRL. Capital International Investors boosted its position in shares of Hormel Foods by 115.0% during the 3rd quarter. Capital International Investors now owns 18,956,177 shares of the company’s stock valued at $746,873,000 after purchasing an additional 10,137,498 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Hormel Foods by 6,440.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,355,366 shares of the company’s stock valued at $102,000 after buying an additional 4,288,779 shares in the last quarter. Capital Research Global Investors lifted its stake in Hormel Foods by 24.2% during the third quarter. Capital Research Global Investors now owns 8,971,281 shares of the company’s stock valued at $353,468,000 after buying an additional 1,745,144 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Hormel Foods by 28.6% during the third quarter. Victory Capital Management Inc. now owns 4,910,525 shares of the company’s stock valued at $193,474,000 after buying an additional 1,093,493 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Hormel Foods during the third quarter valued at about $24,162,000. Institutional investors own 42.59% of the company’s stock.

A number of analysts have commented on HRL shares. Piper Jaffray Companies set a $50.00 price objective on shares of Hormel Foods and gave the company a “buy” rating in a research note on Tuesday, November 6th. Jefferies Financial Group lowered shares of Hormel Foods from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a research note on Tuesday, November 27th. Credit Suisse Group set a $39.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research note on Wednesday, November 21st. Barclays set a $40.00 price target on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Finally, Zacks Investment Research reissued a “sell” rating on shares of Hormel Foods in a research report on Tuesday, November 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Hormel Foods currently has a consensus rating of “Hold” and an average target price of $40.56.

NYSE HRL opened at $43.05 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.80 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $23.01 billion, a PE ratio of 22.78, a P/E/G ratio of 2.84 and a beta of 0.19. Hormel Foods Corp has a 52-week low of $31.83 and a 52-week high of $46.26.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 20th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Hormel Foods had a net margin of 10.60% and a return on equity of 18.01%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Sell-side analysts predict that Hormel Foods Corp will post 1.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Monday, January 14th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 11th. Hormel Foods’s dividend payout ratio is 44.44%.

In related news, Director Susan K. Nestegard sold 4,517 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $45.52, for a total transaction of $205,613.84. Following the transaction, the director now owns 84,903 shares of the company’s stock, valued at $3,864,784.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas R. Day sold 48,596 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $45.54, for a total transaction of $2,213,061.84. Following the transaction, the executive vice president now directly owns 93,132 shares in the company, valued at approximately $4,241,231.28. The disclosure for this sale can be found here. Insiders sold 208,655 shares of company stock valued at $9,414,670 over the last three months. 1.11% of the stock is owned by insiders.

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About Hormel Foods

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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