Hormel Foods Co. (NYSE:HRL) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its holdings in shares of Hormel Foods Co. (NYSE:HRLGet Rating) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,832 shares of the company’s stock after purchasing an additional 2,629 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Hormel Foods were worth $5,900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HRL. Clear Street Markets LLC boosted its stake in Hormel Foods by 413.0% during the 2nd quarter. Clear Street Markets LLC now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 475 shares during the last quarter. CFS Investment Advisory Services LLC boosted its stake in Hormel Foods by 5,067.8% during the 1st quarter. CFS Investment Advisory Services LLC now owns 1,778,852 shares of the company’s stock worth $35,000 after purchasing an additional 1,744,430 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Hormel Foods during the 1st quarter worth $41,000. LS Investment Advisors LLC acquired a new stake in Hormel Foods during the 2nd quarter worth $48,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Hormel Foods during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 39.74% of the company’s stock.

Hormel Foods Trading Down 0.4 %

NYSE HRL opened at $45.91 on Wednesday. The firm’s 50-day moving average is $46.89 and its two-hundred day moving average is $47.36. Hormel Foods Co. has a 12 month low of $44.21 and a 12 month high of $55.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.47 and a quick ratio of 1.30. The stock has a market capitalization of $25.09 billion, a P/E ratio of 25.09, a PEG ratio of 3.81 and a beta of 0.17.

Hormel Foods (NYSE:HRLGet Rating) last posted its earnings results on Wednesday, November 30th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Hormel Foods had a net margin of 8.03% and a return on equity of 13.62%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. Hormel Foods’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Hormel Foods Co. will post 1.89 earnings per share for the current year.

Hormel Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 17th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, January 13th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a yield of 2.40%. Hormel Foods’s dividend payout ratio is 56.83%.

Analyst Ratings Changes

Several research analysts have recently weighed in on HRL shares. Argus boosted their price target on shares of Hormel Foods from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, December 30th. StockNews.com started coverage on shares of Hormel Foods in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hormel Foods currently has an average rating of “Hold” and a consensus target price of $48.17.

Insiders Place Their Bets

In other Hormel Foods news, CEO James P. Snee sold 31,283 shares of the business’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $47.66, for a total transaction of $1,490,947.78. Following the sale, the chief executive officer now directly owns 234,999 shares in the company, valued at $11,200,052.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hormel Foods news, VP Patrick J. Connor sold 1,577 shares of the business’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $46.88, for a total transaction of $73,929.76. Following the sale, the vice president now directly owns 22,682 shares in the company, valued at $1,063,332.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Snee sold 31,283 shares of the business’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $47.66, for a total transaction of $1,490,947.78. Following the sale, the chief executive officer now owns 234,999 shares in the company, valued at $11,200,052.34. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Hormel Foods Company Profile

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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.

Further Reading

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

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