8,928 Shares in Hormel Foods Co. (NYSE:HRL) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in Hormel Foods Co. (NYSE:HRL) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,928 shares of the company’s stock, valued at approximately $272,000.

Several other hedge funds also recently bought and sold shares of HRL. Marshall Wace LLP lifted its stake in Hormel Foods by 86.4% in the 2nd quarter. Marshall Wace LLP now owns 1,602,732 shares of the company’s stock worth $48,867,000 after purchasing an additional 742,859 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hormel Foods by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock valued at $90,738,000 after buying an additional 575,378 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Hormel Foods by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock valued at $196,729,000 after buying an additional 505,942 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Hormel Foods by 59.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,244,448 shares of the company’s stock valued at $37,470,000 after buying an additional 462,283 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Hormel Foods by 15.4% during the 2nd quarter. Millennium Management LLC now owns 3,089,868 shares of the company’s stock valued at $94,210,000 after buying an additional 412,313 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Insiders Place Their Bets

In related news, VP Steven J. Lykken sold 9,800 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the completion of the transaction, the vice president now owns 30,589 shares of the company’s stock, valued at $976,094.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Steven J. Lykken sold 9,800 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the completion of the transaction, the vice president now owns 30,589 shares of the company’s stock, valued at $976,094.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction on 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 approximately $1,276,935. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,400 shares of company stock valued at $2,288,338. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on HRL. Stephens began coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and upped their target price for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Hormel Foods currently has an average rating of “Hold” and an average price target of $32.17.

Hormel Foods Price Performance

Shares of HRL stock opened at $32.19 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The company has a market capitalization of $17.65 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.06 and a beta of 0.25. The company’s 50-day simple moving average is $31.84 and its two-hundred day simple moving average is $32.50. Hormel Foods Co. has a one year low of $28.51 and a one year high of $36.86.

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

Hormel Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.282 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.50%. Hormel Foods’s dividend payout ratio is currently 80.71%.

About Hormel Foods

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.