Keybank National Association OH reduced its position in Hormel Foods Corporation (NYSE:HRL) by 33.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,509 shares of the company’s stock after selling 11,160 shares during the quarter. Keybank National Association OH’s holdings in Hormel Foods Corporation were worth $723,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HRL. Teachers Advisors LLC boosted its position in shares of Hormel Foods Corporation by 4.5% in the first quarter. Teachers Advisors LLC now owns 395,991 shares of the company’s stock valued at $13,713,000 after acquiring an additional 16,944 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of Hormel Foods Corporation by 13.5% in the first quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the company’s stock valued at $400,000 after acquiring an additional 1,370 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Hormel Foods Corporation by 17.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,336,211 shares of the company’s stock valued at $46,270,000 after acquiring an additional 200,661 shares during the period. Bank of Montreal Can boosted its position in shares of Hormel Foods Corporation by 25.1% in the second quarter. Bank of Montreal Can now owns 536,539 shares of the company’s stock valued at $18,301,000 after acquiring an additional 107,488 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Hormel Foods Corporation by 30.4% in the second quarter. State of Alaska Department of Revenue now owns 17,030 shares of the company’s stock valued at $580,000 after acquiring an additional 3,970 shares during the period. Institutional investors own 38.33% of the company’s stock.

In related news, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the transaction, the vice president now directly owns 60,000 shares of the company’s stock, valued at $1,852,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Morrison sold 24,814 shares of Hormel Foods Corporation stock in a transaction on Friday, October 13th. The stock was sold at an average price of $31.81, for a total transaction of $789,333.34. The disclosure for this sale can be found here. Insiders have sold 194,518 shares of company stock worth $6,132,366 over the last three months. Insiders own 3.54% of the company’s stock.

A number of research firms have recently commented on HRL. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 21st. Barclays PLC lowered their target price on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, August 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $38.00 target price (down from $45.00) on shares of Hormel Foods Corporation in a research note on Friday, August 25th. Finally, Buckingham Research lowered their target price on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 25th. 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 stock. Hormel Foods Corporation presently has an average rating of “Hold” and an average price target of $34.44.

Shares of Hormel Foods Corporation (HRL) opened at $33.08 on Thursday. The firm has a market cap of $17,407.77, a P/E ratio of 20.36, a P/E/G ratio of 2.16 and a beta of 0.58. Hormel Foods Corporation has a one year low of $29.75 and a one year high of $37.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.53 and a quick ratio of 1.37.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. equities analysts anticipate that Hormel Foods Corporation will post 1.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.98%.

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Hormel Foods Corporation Company Profile

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

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