Brinker Capital Investments LLC Grows Position in Hormel Foods Co. (NYSE:HRL)

Brinker Capital Investments LLC increased its position in shares of Hormel Foods Co. (NYSE:HRL – Get Rating) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,092 shares of the company’s stock after purchasing an additional 358 shares during the period. Brinker Capital Investments LLC’s holdings in Hormel Foods were worth $777,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Clear Street Markets LLC boosted its stake in shares of 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 period. Point72 Hong Kong Ltd purchased a new position in shares of Hormel Foods during the 1st quarter worth about $41,000. LS Investment Advisors LLC bought a new stake in Hormel Foods during the 2nd quarter valued at about $48,000. Dupont Capital Management Corp bought a new stake in Hormel Foods during the 2nd quarter valued at about $48,000. Finally, Jones Financial Companies Lllp lifted its holdings in Hormel Foods by 56.5% during the 2nd quarter. Jones Financial Companies Lllp now owns 1,571 shares of the company’s stock valued at $74,000 after buying an additional 567 shares in the last quarter. 39.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, VP Patrick J. Connor sold 1,577 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.88, for a total transaction of $73,929.76. Following the completion of the transaction, the vice president now owns 22,682 shares in the company, valued at approximately $1,063,332.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Patrick J. Connor sold 1,577 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.88, for a total transaction of $73,929.76. Following the completion of the transaction, the vice president now owns 22,682 shares in the company, valued at approximately $1,063,332.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James P. Snee sold 31,283 shares of the business’s stock in a transaction that occurred on 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 directly owns 234,999 shares in the company, valued at approximately $11,200,052.34. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Hormel Foods Trading Up 0.2 %

NYSE:HRL opened at $44.65 on Tuesday. Hormel Foods Co. has a one year low of $44.08 and a one year high of $55.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.30 and a current ratio of 2.47. The firm has a market cap of $24.40 billion, a P/E ratio of 24.40, a P/E/G ratio of 3.62 and a beta of 0.17. The firm has a 50-day simple moving average of $46.66 and a 200-day simple moving average of $47.23.

Hormel Foods (NYSE:HRL – Get Rating) last posted its quarterly earnings results on Wednesday, November 30th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Hormel Foods had a net margin of 8.03% and a return on equity of 13.62%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. Equities analysts anticipate that Hormel Foods Co. will post 1.89 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 17th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.46%. 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. Hormel Foods’s payout ratio is 60.11%.

Hormel Foods Profile

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Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment focuses on the processing, marketing, and sale of shelf-stable food products sold in the retail market.