MetLife Investment Advisors LLC Acquires Shares of 83,290 Hormel Foods Corp (HRL)

MetLife Investment Advisors LLC acquired a new stake in Hormel Foods Corp (NYSE:HRL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 83,290 shares of the company’s stock, valued at approximately $3,031,000.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Hormel Foods by 1.8% in the fourth quarter. BlackRock Inc. now owns 20,327,330 shares of the company’s stock valued at $739,714,000 after buying an additional 367,255 shares in the last quarter. Capital International Investors lifted its position in shares of Hormel Foods by 28.4% during the third quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock valued at $341,808,000 after purchasing an additional 2,350,000 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Hormel Foods by 16.6% during the fourth quarter. Champlain Investment Partners LLC now owns 3,684,235 shares of the company’s stock valued at $134,069,000 after purchasing an additional 524,325 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hormel Foods by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,229,951 shares of the company’s stock valued at $117,316,000 after purchasing an additional 83,024 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of Hormel Foods by 10.8% during the fourth quarter. APG Asset Management N.V. now owns 3,046,252 shares of the company’s stock valued at $92,316,000 after purchasing an additional 295,914 shares in the last quarter. 39.35% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, insider Steven G. Binder sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $33.40, for a total transaction of $668,000.00. Following the completion of the sale, the insider now owns 31,964 shares in the company, valued at $1,067,597.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luis G. Marconi sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $33.88, for a total transaction of $33,880.00. Following the sale, the insider now owns 21,532 shares of the company’s stock, valued at approximately $729,504.16. The disclosure for this sale can be found here. Insiders have sold 32,621 shares of company stock valued at $1,109,949 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

NYSE HRL opened at $34.32 on Monday. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.74. The stock has a market cap of $18,175.36, a P/E ratio of 21.86, a P/E/G ratio of 2.14 and a beta of 0.53.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. Hormel Foods had a net margin of 9.92% and a return on equity of 17.44%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. equities research analysts anticipate that Hormel Foods Corp will post 1.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 16th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, April 13th. This represents a $0.75 dividend on an annualized basis and a yield of 2.19%. Hormel Foods’s dividend payout ratio (DPR) is presently 47.77%.

A number of research analysts recently weighed in on HRL shares. Credit Suisse Group dropped their price target on shares of Hormel Foods from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Zacks Investment Research raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. Piper Jaffray started coverage on shares of Hormel Foods in a research report on Thursday, January 4th. They set an “overweight” rating and a $42.00 price target on the stock. Barclays reissued a “buy” rating and set a $38.00 price target (down from $40.00) on shares of Hormel Foods in a research report on Friday, February 23rd. Finally, Jefferies Group reissued a “buy” rating on shares of Hormel Foods in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $34.60.

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About Hormel Foods

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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