Sheaff Brock Investment Advisors LLC Has $479,000 Stake in Hormel Foods Corp (HRL)

Sheaff Brock Investment Advisors LLC cut its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 49.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,900 shares of the company’s stock after selling 14,700 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Hormel Foods were worth $479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its holdings in Hormel Foods by 0.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares in the last quarter. Cadence Capital Management LLC raised its holdings in Hormel Foods by 1.0% during the second quarter. Cadence Capital Management LLC now owns 9,922 shares of the company’s stock worth $338,000 after purchasing an additional 98 shares in the last quarter. Rowland & Co. Investment Counsel ADV raised its holdings in Hormel Foods by 0.6% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 17,720 shares of the company’s stock worth $605,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Hormel Foods by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock worth $570,000 after purchasing an additional 100 shares in the last quarter. Finally, Keel Point LLC raised its holdings in Hormel Foods by 2.5% during the second quarter. Keel Point LLC now owns 5,999 shares of the company’s stock worth $205,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 38.33% of the company’s stock.

Hormel Foods Corp (NYSE HRL) traded down $0.07 during midday trading on Wednesday, hitting $37.03. The company’s stock had a trading volume of 524,818 shares, compared to its average volume of 2,410,280. The company has a market capitalization of $19,888.57, a PE ratio of 23.85, a P/E/G ratio of 2.44 and a beta of 0.65. Hormel Foods Corp has a 52 week low of $29.75 and a 52 week high of $38.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. sell-side analysts predict that Hormel Foods Corp will post 1.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.75 annualized dividend and a dividend yield of 2.03%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is currently 43.04%.

In other Hormel Foods news, Director Dakota A. Pippins sold 4,000 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $31.60, for a total value of $126,400.00. Following the transaction, the director now owns 92,377 shares of the company’s stock, valued at $2,919,113.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Nakasone sold 3,184 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.50, for a total value of $119,400.00. The disclosure for this sale can be found here. Insiders sold 282,116 shares of company stock worth $9,365,355 in the last ninety days. 3.54% of the stock is owned by corporate insiders.

Several brokerages recently commented on HRL. BMO Capital Markets reissued a “buy” rating and set a $38.00 target price on shares of Hormel Foods in a report on Monday, November 6th. Mizuho reissued a “hold” rating and set a $33.00 target price on shares of Hormel Foods in a report on Wednesday, October 4th. Barclays dropped their target price on Hormel Foods from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, August 25th. Jefferies Group set a $34.00 target price on Hormel Foods and gave the stock a “hold” rating in a report on Thursday, November 30th. Finally, Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $35.50.

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About Hormel Foods

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

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