Intech Investment Management LLC Trims Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Intech Investment Management LLC lessened its stake in shares of Hormel Foods Co. (NYSE:HRL) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,965 shares of the company’s stock after selling 20,688 shares during the quarter. Intech Investment Management LLC’s holdings in Hormel Foods were worth $5,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in Hormel Foods by 688.3% in the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 647 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Hormel Foods during the second quarter worth approximately $34,000. Central Valley Advisors LLC acquired a new position in shares of Hormel Foods in the 2nd quarter valued at $37,000. Prospera Private Wealth LLC purchased a new stake in shares of Hormel Foods during the 3rd quarter valued at $39,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Hormel Foods during the 2nd quarter worth $42,000. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 0.6 %

NYSE HRL opened at $30.67 on Friday. The stock has a market cap of $16.82 billion, a P/E ratio of 21.60, a PEG ratio of 3.15 and a beta of 0.26. The company’s fifty day simple moving average is $31.05 and its 200-day simple moving average is $31.76. 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 52 week low of $28.51 and a 52 week high of $36.86.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, beating 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 company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts predict that Hormel Foods Co. will post 1.58 EPS for the current fiscal year.

Hormel Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.282 per share. This represents a $1.13 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Tuesday, October 15th. Hormel Foods’s dividend payout ratio (DPR) is currently 79.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Stephens initiated coverage on Hormel Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price objective on the stock. BNP Paribas began coverage on shares of Hormel Foods in a report on Monday, October 21st. They issued an “underperform” rating and a $28.00 price target on the stock. Finally, Citigroup decreased their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.29.

Insider Transactions at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the 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 transaction, the vice president now directly owns 30,589 shares in the company, valued at $976,094.99. This represents a 24.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deanna T. Brady sold 51,600 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the completion of the sale, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The trade was a 41.61 % 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. 0.69% of the stock is currently owned by corporate insiders.

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.