Nordea Investment Management AB raised its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 43.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,415 shares of the company’s stock after acquiring an additional 4,988 shares during the quarter. Nordea Investment Management AB’s holdings in Hormel Foods were worth $700,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in HRL. Vanguard Group Inc raised its stake in shares of Hormel Foods by 1.3% in the third quarter. Vanguard Group Inc now owns 32,167,606 shares of the company’s stock worth $1,267,403,000 after purchasing an additional 410,107 shares during the last quarter. BlackRock Inc. increased its position in shares of Hormel Foods by 17.5% during the fourth quarter. BlackRock Inc. now owns 23,511,652 shares of the company’s stock valued at $1,003,476,000 after acquiring an additional 3,502,530 shares during the last quarter. Capital Research Global Investors increased its position in shares of Hormel Foods by 24.2% during the third quarter. Capital Research Global Investors now owns 8,971,281 shares of the company’s stock valued at $353,468,000 after acquiring an additional 1,745,144 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Hormel Foods by 6,440.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,355,366 shares of the company’s stock valued at $102,000 after acquiring an additional 4,288,779 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hormel Foods by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 4,248,495 shares of the company’s stock valued at $181,055,000 after acquiring an additional 598,442 shares during the last quarter. 43.57% of the stock is currently owned by institutional investors.
In other Hormel Foods news, insider Thomas R. Day sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $41.91, for a total transaction of $251,460.00. Following the sale, the insider now owns 5,031 shares in the company, valued at $210,849.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gary Jamison sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $44.37, for a total value of $354,960.00. Following the sale, the vice president now owns 15,991 shares in the company, valued at approximately $709,520.67. The disclosure for this sale can be found here. Insiders have sold 274,705 shares of company stock worth $12,116,336 in the last 90 days. Company insiders own 1.11% of the company’s stock.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Hormel Foods Corp will post 1.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $0.21 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.12%. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.
Several equities analysts have weighed in on the company. Goldman Sachs Group lowered Hormel Foods from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $37.00 to $35.00 in a report on Tuesday, April 23rd. Zacks Investment Research raised Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, February 28th. Jefferies Financial Group reissued a “hold” rating and set a $44.00 price objective on shares of Hormel Foods in a report on Thursday, February 21st. Stephens assumed coverage on Hormel Foods in a report on Monday, March 4th. They set an “equal weight” rating for the company. Finally, Credit Suisse Group reissued a “hold” rating and set a $39.00 price objective on shares of Hormel Foods in a report on Thursday, February 21st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and a consensus target price of $40.20.
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, 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.
Recommended Story: Understanding Price to Earnings Ratio (PE)
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.