DekaBank Deutsche Girozentrale Sells 408,638 Shares of Hormel Foods Co. (NYSE:HRL)

DekaBank Deutsche Girozentrale lessened its stake in shares of Hormel Foods Co. (NYSE:HRL) by 82.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,671 shares of the company’s stock after selling 408,638 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Hormel Foods were worth $2,739,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in Hormel Foods during the fourth quarter worth approximately $1,195,000. Arizona State Retirement System increased its position in Hormel Foods by 0.8% during the fourth quarter. Arizona State Retirement System now owns 82,608 shares of the company’s stock worth $2,653,000 after buying an additional 640 shares during the last quarter. Trust Point Inc. acquired a new position in Hormel Foods during the fourth quarter worth approximately $984,000. Fifth Third Bancorp increased its position in Hormel Foods by 0.6% during the fourth quarter. Fifth Third Bancorp now owns 130,513 shares of the company’s stock worth $4,191,000 after buying an additional 809 shares during the last quarter. Finally, Caprock Group LLC increased its position in Hormel Foods by 29.3% during the fourth quarter. Caprock Group LLC now owns 11,271 shares of the company’s stock worth $362,000 after buying an additional 2,553 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Insiders Place Their Bets

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,381,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,381,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the sale, the senior vice president now owns 38,708 shares of the company’s stock, valued at $1,352,844.60. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock worth $1,414,872 over the last three months. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

HRL has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Barclays upped their target price on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upped their target price on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Piper Sandler upped their target price on Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Finally, Citigroup initiated coverage on Hormel Foods in a research report on Thursday, February 1st. They issued a “neutral” rating and a $31.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, Hormel Foods has an average rating of “Hold” and a consensus price target of $31.00.

Hormel Foods Trading Down 2.9 %

Shares of NYSE:HRL opened at $33.93 on Friday. The company has a market capitalization of $18.58 billion, a P/E ratio of 23.24, a P/E/G ratio of 3.36 and a beta of 0.27. Hormel Foods Co. has a 1 year low of $28.51 and a 1 year high of $41.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 0.79. The business’s 50 day simple moving average is $32.76 and its 200 day simple moving average is $32.61.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, research analysts anticipate that Hormel Foods Co. will post 1.59 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th will be paid a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s payout ratio is presently 77.40%.

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.