Uncommon Cents Investing LLC Invests $1.23 Million in Hormel Foods Corp (HRL)

Uncommon Cents Investing LLC acquired a new stake in shares of Hormel Foods Corp (NYSE:HRL) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 35,880 shares of the company’s stock, valued at approximately $1,232,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dupont Capital Management Corp purchased a new stake in Hormel Foods during the 3rd quarter valued at about $100,000. Steward Partners Investment Advisory LLC grew its stake in Hormel Foods by 3,200.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock valued at $120,000 after acquiring an additional 3,200 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Hormel Foods during the 4th quarter valued at about $218,000. Resources Investment Advisors Inc. purchased a new stake in Hormel Foods during the 4th quarter valued at about $218,000. Finally, Hills Bank & Trust Co. purchased a new stake in Hormel Foods during the 4th quarter valued at about $224,000. 38.31% of the stock is owned by institutional investors.

Hormel Foods Corp (NYSE HRL) opened at $34.35 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. The firm has a market cap of $18,191.24, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.10 and a beta of 0.49. Hormel Foods Corp has a fifty-two week low of $29.75 and a fifty-two week high of $38.00.

Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. Hormel Foods’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. equities research analysts predict that Hormel Foods Corp will post 1.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.18%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, January 12th. Hormel Foods’s payout ratio is presently 47.47%.

Several analysts recently issued reports on HRL shares. Morgan Stanley started coverage on shares of Hormel Foods in a research note on Friday, November 3rd. They set an “underweight” rating and a $26.00 price objective for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $38.00 price objective on shares of Hormel Foods in a research note on Monday, November 6th. Piper Jaffray Companies started coverage on shares of Hormel Foods in a research note on Thursday, January 4th. They set an “overweight” rating and a $42.00 price objective for the company. Zacks Investment Research raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. Finally, KeyCorp started coverage on shares of Hormel Foods in a research note on Tuesday, October 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Hormel Foods presently has a consensus rating of “Hold” and an average price target of $35.30.

In other Hormel Foods news, Chairman James P. Snee sold 7,616 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Nakasone sold 3,184 shares of the business’s stock in a transaction dated 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 sold a total of 131,001 shares of company stock worth $4,612,826 over the last quarter. 3.54% of the stock is currently owned by company insiders.

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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.

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

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