Ontario Teachers Pension Plan Board trimmed its position in Hormel Foods Corp (NYSE:HRL) by 47.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 179,467 shares of the company’s stock after selling 164,361 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Hormel Foods were worth $8,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Vigilant Capital Management LLC purchased a new position in Hormel Foods in the 4th quarter valued at $41,000. Enterprise Financial Services Corp lifted its holdings in Hormel Foods by 53.6% in the fourth quarter. Enterprise Financial Services Corp now owns 1,619 shares of the company’s stock valued at $73,000 after acquiring an additional 565 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Hormel Foods in the fourth quarter valued at $113,000. TCI Wealth Advisors Inc. lifted its holdings in Hormel Foods by 50.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 2,554 shares of the company’s stock valued at $115,000 after acquiring an additional 860 shares during the period. Finally, Rational Advisors LLC acquired a new stake in Hormel Foods in the third quarter valued at $118,000. Hedge funds and other institutional investors own 43.84% of the company’s stock.
A number of equities research analysts have commented on HRL shares. Bank of America started coverage on Hormel Foods in a report on Friday, October 25th. They issued an “underperform” rating and a $40.00 target price for the company. Stephens reissued a “hold” rating and issued a $43.00 target price (up previously from $37.00) on shares of Hormel Foods in a report on Wednesday, November 27th. ValuEngine downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus target price of $40.90.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Tuesday, November 26th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.51 billion. Hormel Foods had a return on equity of 16.14% and a net margin of 10.31%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities research analysts expect that Hormel Foods Corp will post 1.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be paid a dividend of $0.2325 per share. This represents a $0.93 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, January 10th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.21. Hormel Foods’s payout ratio is 53.45%.
In other news, EVP Glenn R. Leitch sold 16,000 shares of Hormel Foods stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $45.34, for a total transaction of $725,440.00. Also, Director Elsa A. Murano sold 4,519 shares of Hormel Foods stock in a transaction on Friday, January 10th. The stock was sold at an average price of $44.70, for a total value of $201,999.30. Following the transaction, the director now directly owns 101,067 shares of the company’s stock, valued at approximately $4,517,694.90. The disclosure for this sale can be found here. Insiders have sold a total of 118,460 shares of company stock valued at $5,304,877 in the last ninety days. Corporate insiders own 1.15% of the company’s stock.
Hormel Foods Company Profile
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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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