Fidelis Capital Partners LLC Makes New $302,000 Investment in Hormel Foods Co. (NYSE:HRL)

Fidelis Capital Partners LLC purchased a new position in Hormel Foods Co. (NYSE:HRL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,688 shares of the company’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC grew its position in Hormel Foods by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock worth $196,729,000 after purchasing an additional 505,942 shares during the last quarter. Millennium Management LLC grew its position in Hormel Foods by 15.4% in the 2nd quarter. Millennium Management LLC now owns 3,089,868 shares of the company’s stock worth $94,210,000 after purchasing an additional 412,313 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Hormel Foods by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock valued at $90,738,000 after acquiring an additional 575,378 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Hormel Foods by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,772,481 shares of the company’s stock valued at $54,043,000 after acquiring an additional 6,315 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Hormel Foods by 86.4% during the 2nd quarter. Marshall Wace LLP now owns 1,602,732 shares of the company’s stock valued at $48,867,000 after acquiring an additional 742,859 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $31.91, for a total value of $312,718.00. Following the completion of the transaction, the vice president now directly owns 30,589 shares of the company’s stock, valued at approximately $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Steven J. Lykken sold 9,800 shares of Hormel Foods stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $31.91, for a total transaction of $312,718.00. Following the sale, the vice president now owns 30,589 shares of the company’s stock, valued at approximately $976,094.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,400 shares of company stock valued at $2,288,338. Insiders own 0.69% of the company’s stock.

Hormel Foods Trading Down 0.2 %

Shares of HRL stock opened at $30.63 on Thursday. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $36.86. The company has a market capitalization of $16.80 billion, a P/E ratio of 21.57, a P/E/G ratio of 3.07 and a beta of 0.25. The firm has a 50-day moving average price of $31.66 and a 200 day moving average price of $32.29. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm posted $0.40 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts forecast that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.282 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Tuesday, October 15th. Hormel Foods’s dividend payout ratio is presently 79.58%.

Analysts Set New Price Targets

Several analysts have recently weighed in on HRL shares. Stephens started coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. BNP Paribas started coverage on shares of Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price on the stock. Finally, Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Hormel Foods has a consensus rating of “Hold” and a consensus target price of $31.57.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.