Addenda Capital Inc. Has $3.33 Million Position in Hormel Foods Corp (HRL)

Addenda Capital Inc. trimmed its stake in shares of Hormel Foods Corp (NYSE:HRL) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,553 shares of the company’s stock after selling 6,355 shares during the quarter. Addenda Capital Inc.’s holdings in Hormel Foods were worth $3,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in HRL. Dupont Capital Management Corp purchased a new position in shares of Hormel Foods in the third quarter worth approximately $100,000. Acrospire Investment Management LLC purchased a new position in Hormel Foods during the second quarter valued at approximately $111,000. BB&T Investment Services Inc. purchased a new position in Hormel Foods during the second quarter valued at approximately $118,000. First Citizens Bank & Trust Co. purchased a new position in Hormel Foods during the fourth quarter valued at approximately $218,000. Finally, Keel Point LLC grew its position in Hormel Foods by 2.5% during the second quarter. Keel Point LLC now owns 5,999 shares of the company’s stock valued at $205,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 38.11% of the company’s stock.

In related news, Chairman James P. Snee sold 7,616 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.16, for a total value of $260,162.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Nakasone sold 3,184 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.50, for a total transaction of $119,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 131,001 shares of company stock valued at $4,612,826 over the last ninety days. Company insiders own 3.54% of the company’s stock.

A number of brokerages have recently weighed in on HRL. Morgan Stanley began coverage on shares of Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price objective for the company. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the stock an “overweight” rating in a research note on Friday, December 1st. KeyCorp started coverage on shares of Hormel Foods in a research note on Tuesday, October 31st. They set a “hold” rating for the company. Mizuho set a $34.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a research note on Saturday, November 25th. Finally, Zacks Investment Research raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Hormel Foods has an average rating of “Hold” and an average price target of $35.70.

Shares of Hormel Foods Corp (NYSE HRL) opened at $34.76 on Friday. The firm has a market cap of $18,138.29, a P/E ratio of 22.00, a P/E/G ratio of 2.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the company posted $0.45 EPS. Hormel Foods’s revenue for the quarter was down 5.1% on a year-over-year basis. research analysts predict that Hormel Foods Corp will post 1.67 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a dividend of $0.1875 per share. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, January 12th. Hormel Foods’s dividend payout ratio (DPR) is currently 47.47%.

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Hormel Foods Company Profile

Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.

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

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