Quantbot Technologies LP Purchases New Stake in Hormel Foods Co. (NYSE:HRL)

Quantbot Technologies LP acquired a new stake in Hormel Foods Co. (NYSE:HRL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,529 shares of the company’s stock, valued at approximately $144,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Hormel Foods by 688.3% during the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 647 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Hormel Foods in the 2nd quarter valued at $34,000. Central Valley Advisors LLC acquired a new stake in shares of Hormel Foods during the second quarter worth $37,000. Prospera Private Wealth LLC purchased a new stake in shares of Hormel Foods in the third quarter valued at $39,000. Finally, Sentry Investment Management LLC acquired a new position in Hormel Foods in the second quarter valued at $42,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 2.8 %

NYSE HRL opened at $32.88 on Friday. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $36.86. The business has a 50 day moving average price of $31.08 and a two-hundred day moving average price of $31.54. The stock has a market cap of $18.03 billion, a PE ratio of 23.15, a P/E/G ratio of 3.39 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $0.42 earnings per share. Hormel Foods’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Hormel Foods Co. will post 1.58 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be paid a $0.29 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 13th. This represents a $1.16 annualized dividend and a dividend yield of 3.53%. Hormel Foods’s payout ratio is 79.58%.

Insider Activity at Hormel Foods

In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the transaction, the senior vice president now owns 39,050 shares of the company’s stock, valued at $1,276,935. This trade represents a 20.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deanna T. Brady sold 51,600 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the sale, the executive vice president now owns 72,421 shares of the company’s stock, valued at $2,313,850.95. This trade represents a 41.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,400 shares of company stock valued at $2,288,338. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HRL shares. Citigroup decreased their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. BNP Paribas started coverage on shares of Hormel Foods in a research report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. Finally, Stephens initiated coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.29.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.