Dividend Assets Capital LLC Sells 3,431 Shares of Hormel Foods Corp (HRL)

Dividend Assets Capital LLC cut its stake in shares of Hormel Foods Corp (NYSE:HRL) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,836 shares of the company’s stock after selling 3,431 shares during the quarter. Dividend Assets Capital LLC’s holdings in Hormel Foods were worth $7,086,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new stake in Hormel Foods in the second quarter valued at $118,000. Fort L.P. acquired a new stake in Hormel Foods in the second quarter valued at $125,000. IMS Capital Management acquired a new stake in Hormel Foods in the second quarter valued at $130,000. Dupont Capital Management Corp acquired a new stake in Hormel Foods in the second quarter valued at $135,000. Finally, Moody National Bank Trust Division acquired a new stake in Hormel Foods in the third quarter valued at $142,000. 41.95% of the stock is owned by institutional investors.

A number of equities research analysts have commented on the company. Vertical Group downgraded Hormel Foods from a “hold” rating to a “sell” rating in a report on Tuesday. They noted that the move was a valuation call. Piper Jaffray Companies set a $50.00 target price on Hormel Foods and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. assumed coverage on Hormel Foods in a report on Friday, September 28th. They issued a “neutral” rating and a $41.00 target price for the company. BMO Capital Markets downgraded Hormel Foods from an “outperform” rating to a “market perform” rating and raised their target price for the company from $38.00 to $44.00 in a report on Monday, September 17th. They noted that the move was a valuation call. Finally, ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $39.67.

In other news, insider Deanna T. Brady sold 48,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $41.05, for a total value of $1,970,400.00. Following the completion of the transaction, the insider now owns 83,102 shares in the company, valued at $3,411,337.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James P. Snee sold 21,923 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $37.85, for a total value of $829,785.55. Following the completion of the transaction, the chairman now owns 49,326 shares of the company’s stock, valued at approximately $1,866,989.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,632 shares of company stock valued at $5,556,981. Company insiders own 1.48% of the company’s stock.

Shares of HRL stock opened at $44.08 on Wednesday. Hormel Foods Corp has a fifty-two week low of $30.80 and a fifty-two week high of $44.49. The firm has a market capitalization of $23.03 billion, a PE ratio of 28.08, a PEG ratio of 2.80 and a beta of 0.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.69 and a quick ratio of 0.78.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Hormel Foods Corp will post 1.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 22nd will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, October 19th. Hormel Foods’s dividend payout ratio is currently 47.77%.

ILLEGAL ACTIVITY WARNING: This news story was first published by WKRB News and is the property of of WKRB News. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://www.wkrb13.com/2018/11/07/dividend-assets-capital-llc-sells-3431-shares-of-hormel-foods-corp-hrl.html.

About Hormel Foods

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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

See Also: Bear Market

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)

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.

Leave a Reply