DekaBank Deutsche Girozentrale Has $27.72 Million Holdings in Hormel Foods Co. (NYSE:HRL)

DekaBank Deutsche Girozentrale lifted its stake in shares of Hormel Foods Co. (NYSE:HRLGet Rating) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 571,189 shares of the company’s stock after buying an additional 7,177 shares during the period. DekaBank Deutsche Girozentrale owned about 0.11% of Hormel Foods worth $27,720,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Whittier Trust Co. increased its holdings in Hormel Foods by 61.5% in the fourth quarter. Whittier Trust Co. now owns 646 shares of the company’s stock valued at $32,000 after purchasing an additional 246 shares during the period. First Command Financial Services Inc. acquired a new stake in Hormel Foods in the fourth quarter valued at $49,000. Maverick Capital Ltd. acquired a new stake in Hormel Foods in the third quarter valued at $57,000. Sentry Investment Management LLC acquired a new stake in Hormel Foods in the third quarter valued at $101,000. Finally, Paragon Capital Management Ltd acquired a new stake in Hormel Foods in the fourth quarter valued at $129,000. Institutional investors own 41.04% of the company’s stock.

Shares of HRL stock traded up $0.07 on Friday, reaching $52.71. 1,823,042 shares of the company were exchanged, compared to its average volume of 1,722,221. The company has a market cap of $28.73 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 3.41 and a beta of 0.11. The company has a 50-day moving average of $49.45 and a 200-day moving average of $46.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.19 and a quick ratio of 1.21. Hormel Foods Co. has a one year low of $40.48 and a one year high of $53.19.

Hormel Foods (NYSE:HRLGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. Hormel Foods had a net margin of 7.74% and a return on equity of 13.94%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue was up 23.7% on a year-over-year basis. As a group, sell-side analysts predict that Hormel Foods Co. will post 1.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Monday, April 11th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, April 8th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.97%. Hormel Foods’s dividend payout ratio is presently 61.54%.

In other Hormel Foods news, VP Steven J. Lykken sold 16,000 shares of the stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $50.18, for a total value of $802,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elsa A. Murano sold 5,000 shares of the stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $51.56, for a total transaction of $257,800.00. The disclosure for this sale can be found here. Insiders sold a total of 54,676 shares of company stock worth $2,793,495 in the last 90 days. 0.78% of the stock is currently owned by company insiders.

HRL has been the subject of a number of recent research reports. StockNews.com began coverage on Hormel Foods in a report on Thursday, March 31st. They issued a “hold” rating for the company. Argus raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, March 10th. Piper Sandler upped their price target on shares of Hormel Foods from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, March 2nd. TheStreet raised shares of Hormel Foods from a “c+” rating to a “b-” rating in a research report on Friday, December 17th. Finally, The Goldman Sachs Group cut shares of Hormel Foods from a “neutral” rating to a “sell” rating and set a $44.00 price target on the stock. in a research report on Tuesday, March 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.86.

Hormel Foods Profile (Get Rating)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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

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