Barings LLC held its position in Hormel Foods Corporation (NYSE:HRL) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,020 shares of the company’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Hormel Foods Corporation were worth $970,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HRL. Pacer Advisors Inc. grew its holdings in Hormel Foods Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock worth $194,000 after acquiring an additional 176 shares during the period. Neuberger Berman Group LLC grew its holdings in Hormel Foods Corporation by 9.9% during the 1st quarter. Neuberger Berman Group LLC now owns 49,746 shares of the company’s stock worth $1,723,000 after acquiring an additional 4,463 shares during the period. Van ECK Associates Corp grew its holdings in Hormel Foods Corporation by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock worth $152,000 after acquiring an additional 295 shares during the period. OppenheimerFunds Inc. grew its holdings in Hormel Foods Corporation by 8.2% during the 1st quarter. OppenheimerFunds Inc. now owns 34,692 shares of the company’s stock worth $1,201,000 after acquiring an additional 2,621 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Hormel Foods Corporation by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 427,838 shares of the company’s stock worth $14,817,000 after acquiring an additional 2,993 shares during the period. 38.95% of the stock is owned by hedge funds and other institutional investors.
In other Hormel Foods Corporation news, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares in the company, valued at $1,852,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald H. Kremin sold 100,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the completion of the sale, the insider now owns 887 shares of the company’s stock, valued at $28,082.42. The disclosure for this sale can be found here. Insiders have sold 169,704 shares of company stock valued at $5,343,032 in the last three months. 3.54% of the stock is owned by insiders.
COPYRIGHT VIOLATION WARNING: “Barings LLC Has $970,000 Position in Hormel Foods Corporation (HRL)” was published by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.themarketsdaily.com/2017/10/13/barings-llc-has-970000-position-in-hormel-foods-corporation-hrl.html.
Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $0.36 EPS. Hormel Foods Corporation’s quarterly revenue was down 4.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.
HRL has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a report on Saturday, August 26th. They issued an “outperform” rating for the company. Barclays PLC decreased their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 16th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.00.
Hormel Foods Corporation Profile
Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corporation (NYSE:HRL).
Receive News & Ratings for Hormel Foods Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corporation and related companies with MarketBeat.com's FREE daily email newsletter.