Hormel Foods Co. (NYSE:HRL) Stock Position Reduced by BNP Paribas Arbitrage SNC

BNP Paribas Arbitrage SNC lessened its position in shares of Hormel Foods Co. (NYSE:HRL) by 12.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 344,656 shares of the company’s stock after selling 49,837 shares during the period. BNP Paribas Arbitrage SNC owned about 0.06% of Hormel Foods worth $13,862,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Verition Fund Management LLC lifted its holdings in Hormel Foods by 3.2% during the 4th quarter. Verition Fund Management LLC now owns 7,456 shares of the company’s stock worth $340,000 after buying an additional 231 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Hormel Foods by 1.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 20,805 shares of the company’s stock worth $948,000 after buying an additional 235 shares during the last quarter. Sovereign Financial Group Inc. lifted its holdings in shares of Hormel Foods by 1.3% in the 2nd quarter. Sovereign Financial Group Inc. now owns 18,722 shares of the company’s stock worth $753,000 after purchasing an additional 245 shares during the last quarter. Carlson Capital Management lifted its holdings in shares of Hormel Foods by 3.5% in the 2nd quarter. Carlson Capital Management now owns 7,421 shares of the company’s stock worth $298,000 after purchasing an additional 249 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Hormel Foods by 3.2% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,051 shares of the company’s stock worth $367,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 41.15% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com assumed coverage on Hormel Foods in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Piper Sandler cut their price target on Hormel Foods from $41.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, October 13th. The Goldman Sachs Group cut their price target on Hormel Foods from $33.00 to $29.00 and set a “sell” rating on the stock in a report on Friday, October 13th. Finally, JPMorgan Chase & Co. cut their price target on Hormel Foods from $36.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $40.00.

Hormel Foods Stock Down 0.4 %

HRL opened at $32.52 on Friday. Hormel Foods Co. has a 12 month low of $30.70 and a 12 month high of $49.73. The stock has a market cap of $17.77 billion, a P/E ratio of 20.20, a P/E/G ratio of 3.79 and a beta of 0.28. The stock’s 50 day moving average price is $34.84 and its 200 day moving average price is $38.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 0.65.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). Hormel Foods had a net margin of 7.20% and a return on equity of 12.20%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts predict that Hormel Foods Co. will post 1.64 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 16th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Friday, October 13th. Hormel Foods’s dividend payout ratio (DPR) is presently 68.32%.

Insider Activity

In related news, SVP Pierre M. Lilly bought 1,454 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average cost of $37.25 per share, for a total transaction of $54,161.50. Following the acquisition, the senior vice president now directly owns 1,454 shares of the company’s stock, valued at approximately $54,161.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Pierre M. Lilly bought 1,454 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average cost of $37.25 per share, for a total transaction of $54,161.50. Following the acquisition, the senior vice president now directly owns 1,454 shares of the company’s stock, valued at approximately $54,161.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin L. Myers sold 5,200 shares of Hormel Foods stock in a transaction on Friday, October 13th. The stock was sold at an average price of $30.93, for a total value of $160,836.00. Following the completion of the transaction, the senior vice president now owns 38,937 shares in the company, valued at $1,204,321.41. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.