Janus Henderson Group PLC raised its position in Hormel Foods Corp (NYSE:HRL) by 22.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,647 shares of the company’s stock after purchasing an additional 17,709 shares during the period. Janus Henderson Group PLC’s holdings in Hormel Foods were worth $3,107,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Hormel Foods by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock valued at $1,059,004,000 after purchasing an additional 777,942 shares during the last quarter. State Street Corp increased its position in shares of Hormel Foods by 0.4% in the 2nd quarter. State Street Corp now owns 30,226,307 shares of the company’s stock valued at $1,031,019,000 after purchasing an additional 132,262 shares during the last quarter. BlackRock Inc. increased its position in shares of Hormel Foods by 2.3% in the 2nd quarter. BlackRock Inc. now owns 19,429,152 shares of the company’s stock valued at $662,728,000 after purchasing an additional 437,716 shares during the last quarter. Capital International Investors increased its position in shares of Hormel Foods by 16.8% in the 2nd quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock valued at $282,600,000 after purchasing an additional 1,191,000 shares during the last quarter. Finally, Valueinvest Asset Management S.A. increased its position in shares of Hormel Foods by 29.2% in the 3rd quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock valued at $222,264,000 after purchasing an additional 1,563,700 shares during the last quarter. 38.09% of the stock is currently owned by institutional investors.
In other Hormel Foods news, Chairman James P. Snee sold 7,616 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.16, for a total transaction of $260,162.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven G. Binder sold 50,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $34.18, for a total transaction of $1,709,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 131,001 shares of company stock worth $4,612,826 over the last three months. 3.54% of the stock is currently owned by insiders.
HRL has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, November 23rd. BMO Capital Markets reissued a “buy” rating and issued a $38.00 price objective on shares of Hormel Foods in a research report on Monday, November 6th. Jefferies Group set a $34.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a research report on Thursday, November 30th. Mizuho set a $34.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a research report on Saturday, November 25th. Finally, Credit Suisse Group set a $33.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a research report on Friday, November 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $35.70.
Hormel Foods Corp (NYSE:HRL) opened at $34.55 on Friday. 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 cap of $18,300.00, a price-to-earnings ratio of 22.01, a P/E/G ratio of 2.21 and a beta of 0.65. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00.
Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $0.45 EPS. The company’s revenue was down 5.1% on a year-over-year basis. research analysts predict that Hormel Foods Corp will post 1.67 earnings per share for the current fiscal year.
The firm also recently disclosed 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 an increase from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend 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 47.77%.
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