Hormel Foods Corp (HRL) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Hormel Foods Corp (NYSE:HRL) by 18.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 130,942 shares of the company’s stock after selling 28,677 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Hormel Foods were worth $5,861,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in HRL. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Hormel Foods by 3.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,309,145 shares of the company’s stock valued at $58,597,000 after purchasing an additional 42,236 shares during the period. Leisure Capital Management boosted its holdings in Hormel Foods by 3.6% in the 1st quarter. Leisure Capital Management now owns 16,097 shares of the company’s stock valued at $721,000 after purchasing an additional 559 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Hormel Foods by 2.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 104,230 shares of the company’s stock valued at $4,665,000 after purchasing an additional 2,183 shares during the period. Mason Street Advisors LLC boosted its holdings in Hormel Foods by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 38,896 shares of the company’s stock valued at $1,741,000 after purchasing an additional 457 shares during the period. Finally, Adviser Investments LLC boosted its holdings in Hormel Foods by 8.7% in the 1st quarter. Adviser Investments LLC now owns 12,771 shares of the company’s stock valued at $572,000 after purchasing an additional 1,021 shares during the period. 43.86% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the stock. Goldman Sachs Group cut shares of Hormel Foods from a “neutral” rating to a “sell” rating and dropped their target price for the company from $37.00 to $35.00 in a research report on Tuesday, April 23rd. Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday, February 28th. Stephens assumed coverage on shares of Hormel Foods in a research report on Monday, March 4th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. cut shares of Hormel Foods from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $40.00 to $36.00 in a research report on Tuesday, April 23rd. Finally, Credit Suisse Group restated a “hold” rating and issued a $39.00 target price on shares of Hormel Foods in a research report on Thursday, February 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.30.

In related news, VP Lori J. Marco sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $41.56, for a total transaction of $540,280.00. Following the completion of the transaction, the vice president now directly owns 48,304 shares in the company, valued at approximately $2,007,514.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Gary Jamison sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $44.37, for a total transaction of $354,960.00. Following the transaction, the vice president now owns 15,991 shares of the company’s stock, valued at $709,520.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,705 shares of company stock valued at $12,116,336. 1.11% of the stock is owned by corporate insiders.

HRL stock opened at $40.27 on Monday. The company has a market cap of $21.57 billion, a P/E ratio of 22.37, a P/E/G ratio of 3.08 and a beta of 0.12. Hormel Foods Corp has a 1 year low of $35.12 and a 1 year high of $46.26. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.04.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Hormel Foods had a net margin of 10.38% and a return on equity of 17.31%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. As a group, research analysts expect that Hormel Foods Corp will post 1.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, July 12th. Hormel Foods’s dividend payout ratio is 44.44%.

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Hormel Foods Company 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.

Read More: Net Income

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corp (NYSE:HRL).

Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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