Hormel Foods Corp (HRL) Position Lessened by F3Logic LLC

F3Logic LLC cut its holdings in Hormel Foods Corp (NYSE:HRL) by 20.9% during the 1st quarter, Holdings Channel reports. The firm owned 44,853 shares of the company’s stock after selling 11,847 shares during the period. F3Logic LLC’s holdings in Hormel Foods were worth $2,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc grew 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. grew its stake in shares of Hormel Foods by 17.5% in the fourth quarter. BlackRock Inc. now owns 23,511,652 shares of the company’s stock worth $1,003,476,000 after purchasing an additional 3,502,530 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Hormel Foods by 6,440.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,355,366 shares of the company’s stock worth $102,000 after purchasing an additional 4,288,779 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hormel Foods by 16.4% in the fourth quarter. Geode Capital Management LLC now owns 4,248,495 shares of the company’s stock worth $181,055,000 after purchasing an additional 598,442 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of Hormel Foods by 91.6% in the fourth quarter. APG Asset Management N.V. now owns 3,595,652 shares of the company’s stock worth $134,245,000 after purchasing an additional 1,719,400 shares during the last quarter. 44.30% of the stock is currently owned by institutional investors.

Shares of HRL stock traded up $0.04 during trading hours on Wednesday, hitting $39.45. 13,331 shares of the company’s stock traded hands, compared to its average volume of 2,955,288. Hormel Foods Corp has a 12-month low of $34.12 and a 12-month high of $46.26. The firm has a market capitalization of $21.20 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.62 and a beta of 0.12. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 1.46.



Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Hormel Foods had a net margin of 9.93% and a return on equity of 17.58%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business earned $0.56 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Hormel Foods Corp will post 1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.21 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.13%. Hormel Foods’s payout ratio is currently 44.44%.

In related news, Chairman James P. Snee sold 27,752 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $43.49, for a total value of $1,206,934.48. Following the completion of the transaction, the chairman now directly owns 75,464 shares in the company, valued at approximately $3,281,929.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gary Jamison sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $44.37, for a total transaction of $354,960.00. Following the completion of the transaction, the vice president now owns 15,991 shares of the company’s stock, valued at $709,520.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,705 shares of company stock valued at $12,116,336. 1.11% of the stock is owned by company insiders.

HRL has been the subject of several research analyst reports. ValuEngine lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. JPMorgan Chase & Co. lowered shares of Hormel Foods from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $40.00 to $36.00 in a report on Tuesday, April 23rd. Zacks Investment Research lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Credit Suisse Group reiterated a “hold” rating and set a $39.00 target price on shares of Hormel Foods in a report on Thursday, February 21st. Finally, Stephens started coverage on shares of Hormel Foods in a report on Monday, March 4th. They set an “equal weight” rating for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Hormel Foods has an average rating of “Hold” and a consensus target price of $40.20.

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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.

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

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