Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Has $1.14 Million Holdings in Hormel Foods Co. (NYSE:HRL)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group decreased its position in Hormel Foods Co. (NYSE:HRL) by 10.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,331 shares of the company’s stock after selling 4,277 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Hormel Foods were worth $1,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. boosted its position in shares of Hormel Foods by 4.7% in the fourth quarter. Nomura Holdings Inc. now owns 31,967 shares of the company’s stock worth $1,026,000 after buying an additional 1,443 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Hormel Foods during the fourth quarter worth $2,694,000. First Trust Advisors LP boosted its position in Hormel Foods by 8.2% during the fourth quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock valued at $82,963,000 after purchasing an additional 196,460 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Hormel Foods by 21.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 571,252 shares of the company’s stock worth $19,931,000 after purchasing an additional 102,141 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Hormel Foods during the 1st quarter worth about $2,231,000. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hormel Foods

In related news, VP Steven J. Lykken sold 9,800 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the completion of the transaction, the vice president now directly owns 30,589 shares in the company, valued at $976,094.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.91, for a total value of $312,718.00. Following the sale, the vice president now owns 30,589 shares of the company’s stock, valued at approximately $976,094.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the transaction, the senior vice president now directly owns 39,050 shares of the company’s stock, valued at $1,276,935. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,400 shares of company stock valued at $2,288,338. 0.69% of the stock is owned by corporate insiders.

Hormel Foods Stock Down 0.2 %

HRL opened at $31.65 on Wednesday. The business has a 50 day moving average of $32.04 and a 200-day moving average of $32.79. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 3.11 and a beta of 0.25. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $38.27.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. As a group, sell-side analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Hormel Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.282 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.56%. Hormel Foods’s dividend payout ratio is currently 80.71%.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $37.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.33.

Hormel Foods 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.