Rhumbline Advisers Has $33.49 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Rhumbline Advisers reduced its stake in Hormel Foods Co. (NYSE:HRLGet Rating) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 707,035 shares of the company’s stock after selling 35,432 shares during the period. Rhumbline Advisers owned approximately 0.13% of Hormel Foods worth $33,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Clear Street Markets LLC grew its stake in shares of Hormel Foods by 413.0% in the 2nd quarter. Clear Street Markets LLC now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 475 shares during the period. Lansing Street Advisors bought a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $33,000. CFS Investment Advisory Services LLC grew its stake in shares of Hormel Foods by 5,067.8% in the 1st quarter. CFS Investment Advisory Services LLC now owns 1,778,852 shares of the company’s stock valued at $35,000 after purchasing an additional 1,744,430 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $36,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $41,000. 39.95% of the stock is currently owned by institutional investors.

Hormel Foods Stock Down 0.3 %

NYSE HRL opened at $49.15 on Thursday. The stock’s 50 day simple moving average is $46.40 and its 200 day simple moving average is $47.67. Hormel Foods Co. has a one year low of $41.25 and a one year high of $55.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.40 and a quick ratio of 1.21. The firm has a market cap of $26.85 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.35 and a beta of 0.19.

Hormel Foods (NYSE:HRLGet Rating) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). Hormel Foods had a return on equity of 13.92% and a net margin of 7.93%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the company posted $0.39 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Hormel Foods Co. will post 1.81 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 17th will be issued a dividend of $0.275 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, January 13th. This represents a $1.10 annualized dividend and a yield of 2.24%. Hormel Foods’s dividend payout ratio is currently 56.83%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HRL shares. Stephens lowered their price objective on Hormel Foods to $52.00 in a research note on Tuesday, September 6th. Piper Sandler decreased their price target on Hormel Foods from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, September 2nd. StockNews.com assumed coverage on Hormel Foods in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Argus decreased their price target on Hormel Foods from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $48.00.

Insiders Place Their Bets

In other Hormel Foods news, SVP Kevin L. Myers sold 5,000 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $47.20, for a total transaction of $236,000.00. Following the transaction, the senior vice president now owns 32,954 shares of the company’s stock, valued at approximately $1,555,428.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.78% of the company’s stock.

Hormel Foods Profile

(Get Rating)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

See Also

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

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.