Hormel Foods Corp (HRL) Shares Bought by Unigestion Holding SA

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Unigestion Holding SA lifted its stake in Hormel Foods Corp (NYSE:HRL) by 2,297.9% during the third quarter, Holdings Channel reports. The firm owned 329,568 shares of the company’s stock after purchasing an additional 315,824 shares during the period. Unigestion Holding SA’s holdings in Hormel Foods were worth $12,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cliftonlarsonallen Wealth Advisors LLC grew its holdings in Hormel Foods by 324.0% during the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 79,241 shares of the company’s stock worth $3,122,000 after acquiring an additional 60,550 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Hormel Foods by 5.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 49,777 shares of the company’s stock worth $1,961,000 after acquiring an additional 2,700 shares in the last quarter. Penserra Capital Management LLC grew its holdings in Hormel Foods by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 12,420 shares of the company’s stock worth $489,000 after acquiring an additional 1,755 shares in the last quarter. Benedict Financial Advisors Inc. grew its holdings in Hormel Foods by 4.0% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 84,737 shares of the company’s stock worth $3,339,000 after acquiring an additional 3,223 shares in the last quarter. Finally, WINTON GROUP Ltd grew its holdings in Hormel Foods by 30.9% during the 3rd quarter. WINTON GROUP Ltd now owns 8,260 shares of the company’s stock worth $325,000 after acquiring an additional 1,950 shares in the last quarter. Hedge funds and other institutional investors own 41.95% of the company’s stock.

Several research analysts have issued reports on the stock. Vertical Group cut shares of Hormel Foods from a “hold” rating to a “sell” rating in a report on Tuesday. They noted that the move was a valuation call. Piper Jaffray Companies set a $50.00 price target on shares of Hormel Foods and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. began coverage on shares of Hormel Foods in a research report on Friday, September 28th. They set a “neutral” rating and a $41.00 price target for the company. BMO Capital Markets lowered shares of Hormel Foods from an “outperform” rating to a “market perform” rating and increased their price target for the company from $38.00 to $44.00 in a research report on Monday, September 17th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Hormel Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.67.

HRL stock opened at $45.02 on Friday. The stock has a market cap of $23.53 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.86 and a beta of 0.14. Hormel Foods Corp has a one year low of $31.71 and a one year high of $45.13. The company has a quick ratio of 0.78, a current ratio of 1.69 and a debt-to-equity ratio of 0.12.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.38 billion. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. Analysts predict that Hormel Foods Corp will post 1.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 22nd will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, October 19th. Hormel Foods’s payout ratio is currently 47.77%.

In related news, Chairman James P. Snee sold 21,923 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $37.85, for a total value of $829,785.55. Following the completion of the transaction, the chairman now directly owns 49,326 shares of the company’s stock, valued at approximately $1,866,989.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven J. Lykken sold 3,614 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.93, for a total transaction of $140,693.02. Following the completion of the transaction, the insider now directly owns 14,337 shares of the company’s stock, valued at $558,139.41. The disclosure for this sale can be found here. Insiders sold a total of 138,632 shares of company stock valued at $5,556,981 over the last ninety days. 3.54% of the stock is currently owned by insiders.

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Hormel Foods Profile

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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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