Robeco Institutional Asset Management B.V. lowered its position in shares of Hormel Foods Corp (NYSE:HRL) by 77.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320,770 shares of the company’s stock after selling 1,103,658 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Hormel Foods worth $13,004,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Advisor Partners LLC grew its position in Hormel Foods by 1.8% during the 1st quarter. Advisor Partners LLC now owns 15,072 shares of the company’s stock worth $675,000 after acquiring an additional 271 shares during the last quarter. 6 Meridian grew its position in Hormel Foods by 2.9% during the 2nd quarter. 6 Meridian now owns 11,386 shares of the company’s stock worth $462,000 after acquiring an additional 318 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Hormel Foods by 0.9% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 41,430 shares of the company’s stock worth $1,854,000 after acquiring an additional 371 shares during the last quarter. Pittenger & Anderson Inc. grew its position in Hormel Foods by 0.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 51,835 shares of the company’s stock worth $2,320,000 after acquiring an additional 380 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Hormel Foods by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 58,749 shares of the company’s stock worth $2,382,000 after acquiring an additional 385 shares during the last quarter. Institutional investors and hedge funds own 43.56% of the company’s stock.
Several research analysts have commented on HRL shares. Piper Jaffray Companies set a $46.00 target price on Hormel Foods and gave the stock a “buy” rating in a report on Thursday, May 23rd. Buckingham Research cut their target price on Hormel Foods from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Edward Jones downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Zacks Investment Research downgraded Hormel Foods from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a report on Friday, July 26th. Finally, ValuEngine downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four equities 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. The company has a consensus rating of “Hold” and an average price target of $40.22.
Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, May 23rd. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.37 billion. Hormel Foods had a return on equity of 17.31% and a net margin of 10.38%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities analysts predict that Hormel Foods Corp will post 1.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, July 12th. Hormel Foods’s dividend payout ratio is 44.44%.
In other news, Director Robert Nakasone sold 14,695 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $40.71, for a total value of $598,233.45. Following the transaction, the director now directly owns 78,457 shares of the company’s stock, valued at approximately $3,193,984.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James N. Sheehan sold 55,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $41.55, for a total value of $2,285,250.00. Following the completion of the transaction, the vice president now directly owns 60,000 shares in the company, valued at $2,493,000. The disclosure for this sale can be found here. Insiders sold a total of 87,695 shares of company stock worth $3,601,503 over the last three months. 1.11% of the stock is owned by company insiders.
Hormel Foods 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.
Further Reading: What is a Real Estate Investment Trust (REIT)?
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.