Pacer Advisors Inc. grew its stake in Hormel Foods Corp (NYSE:HRL) by 23.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,942 shares of the company’s stock after buying an additional 8,441 shares during the period. Pacer Advisors Inc.’s holdings in Hormel Foods were worth $1,922,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hormel Foods by 0.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,220 shares of the company’s stock worth $2,968,000 after purchasing an additional 299 shares during the period. Pittenger & Anderson Inc. increased its stake in shares of Hormel Foods by 0.6% in the second quarter. Pittenger & Anderson Inc. now owns 52,150 shares of the company’s stock worth $2,114,000 after purchasing an additional 315 shares during the period. 6 Meridian increased its stake in shares of Hormel Foods by 2.9% in the second quarter. 6 Meridian now owns 11,386 shares of the company’s stock worth $462,000 after purchasing an additional 318 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of Hormel Foods by 2.4% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 13,625 shares of the company’s stock worth $552,000 after purchasing an additional 325 shares during the period. Finally, G&S Capital LLC increased its stake in shares of Hormel Foods by 12.4% in the second quarter. G&S Capital LLC now owns 3,131 shares of the company’s stock worth $127,000 after purchasing an additional 346 shares during the period. 44.38% of the stock is owned by institutional investors.
In other news, VP Deanna T. Brady sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $44.03, for a total value of $1,761,200.00. Following the sale, the vice president now directly owns 75,172 shares in the company, valued at approximately $3,309,823.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin L. Myers sold 2,045 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $42.80, for a total value of $87,526.00. Following the completion of the sale, the senior vice president now owns 13,881 shares in the company, valued at $594,106.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,670 shares of company stock worth $5,520,877. Corporate insiders own 1.11% of the company’s stock.
Shares of HRL opened at $41.01 on Wednesday. Hormel Foods Corp has a 12-month low of $37.00 and a 12-month high of $46.26. The company has a quick ratio of 1.06, a current ratio of 2.09 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $21.98 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 2.78 and a beta of 0.06. The stock’s 50-day moving average price is $42.82 and its 200 day moving average price is $41.44.
Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts expect that Hormel Foods Corp will post 1.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, October 21st will be paid a $0.21 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. Hormel Foods’s dividend payout ratio is currently 44.44%.
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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