Hormel Foods Corp (HRL) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of Hormel Foods Corp (NYSE:HRL) by 26.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 507,055 shares of the company’s stock after selling 184,037 shares during the period. Wells Fargo & Company MN owned 0.10% of Hormel Foods worth $16,297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zeke Capital Advisors LLC increased its position in shares of Hormel Foods by 107.7% in the third quarter. Zeke Capital Advisors LLC now owns 55,033 shares of the company’s stock worth $1,769,000 after purchasing an additional 28,540 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Hormel Foods by 348.4% in the third quarter. Schroder Investment Management Group now owns 78,867 shares of the company’s stock worth $2,501,000 after purchasing an additional 61,278 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Hormel Foods in the third quarter worth approximately $660,000. Legal & General Group Plc increased its position in shares of Hormel Foods by 5.4% in the third quarter. Legal & General Group Plc now owns 1,453,545 shares of the company’s stock worth $46,719,000 after purchasing an additional 75,101 shares during the last quarter. Finally, Ffcm LLC increased its position in shares of Hormel Foods by 69.6% in the third quarter. Ffcm LLC now owns 16,602 shares of the company’s stock worth $533,000 after purchasing an additional 6,812 shares during the last quarter. Hedge funds and other institutional investors own 38.09% of the company’s stock.

HRL has been the topic of several research analyst reports. Mizuho restated a “hold” rating and issued a $33.00 price objective on shares of Hormel Foods in a research report on Wednesday, October 4th. Stephens decreased their price objective on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. Jefferies Group set a $34.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Sunday, October 29th. KeyCorp initiated coverage on shares of Hormel Foods in a research report on Tuesday, October 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.70.

In other news, Director Robert Nakasone sold 3,184 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $37.50, for a total transaction of $119,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James P. Snee sold 7,616 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $34.16, for a total value of $260,162.56. The disclosure for this sale can be found here. Insiders have sold 131,001 shares of company stock worth $4,612,826 over the last quarter. Company insiders own 1.48% of the company’s stock.

Shares of Hormel Foods Corp (NYSE HRL) traded up $0.21 during midday trading on Friday, reaching $34.55. 3,186,516 shares of the company’s stock were exchanged, compared to its average volume of 2,380,000. Hormel Foods Corp has a twelve month low of $29.75 and a twelve month high of $38.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. The company has a market capitalization of $18,300.00, a PE ratio of 22.01, a P/E/G ratio of 2.34 and a beta of 0.65.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS 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 analysts’ expectations of $2.41 billion. During the same period last year, the business earned $0.45 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. sell-side analysts forecast that Hormel Foods Corp will post 1.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be given 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 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 43.31%.

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Hormel Foods Company Profile

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

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