The Pitcairn Co. Has $587,000 Position in Hormel Foods Corporation (HRL), Report finds

The Pitcairn Co. Has $587,000 Position in Hormel Foods Corporation (HRL), Report finds

A number of other large investors have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Hormel Foods Corporation by 204.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,614 shares of the company’s stock valued at $137,000 after buying an additional 2,425 shares during the period. Huntington National Bank raised its stake in Hormel Foods Corporation by 17.1% in the third quarter. Huntington National Bank now owns 4,100 shares of the company’s stock valued at $156,000 after buying an additional 600 shares during the period. FNY Managed Accounts LLC purchased a new stake in Hormel Foods Corporation during the third quarter valued at approximately $171,000. Global X Management Co. LLC raised its stake in Hormel Foods Corporation by 95.7% in the third quarter. Global X Management Co. LLC now owns 5,467 shares of the company’s stock valued at $207,000 after buying an additional 2,673 shares during the period. Finally, Cypress Capital Management LLC WY purchased a new stake in Hormel Foods Corporation during the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 33.72% of the company’s stock.

Pitcairn Co. reduced its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,862 shares of the company’s stock after selling 587 shares during the period. Pitcairn Co.’s holdings in Hormel Foods Corporation were worth $587,000 as of its most recent filing with the SEC.

Shares of Hormel Foods Corporation (NYSE:HRL) traded up 0.973% on Thursday, reaching $36.835. 919,490 shares of the company’s stock traded hands. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 22.460 and a beta of 0.49. The firm’s 50-day moving average is $35.79 and its 200-day moving average is $36.51. Hormel Foods Corporation has a 52-week low of $33.18 and a 52-week high of $45.72.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. The firm earned $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Hormel Foods Corporation had a return on equity of 20.56% and a net margin of 9.35%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share. Analysts anticipate that Hormel Foods Corporation will post $1.70 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 17th will be given a dividend of $0.17 per share. This is a positive change from Hormel Foods Corporation’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.86%. Hormel Foods Corporation’s dividend payout ratio is currently 41.46%.

Several equities research analysts have recently issued reports on HRL shares. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Monday, January 9th. Credit Suisse Group set a $41.00 price target on shares of Hormel Foods Corporation and gave the stock a “buy” rating in a research note on Wednesday, November 23rd. BMO Capital Markets raised their price target on shares of Hormel Foods Corporation from $34.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 23rd. Piper Jaffray Companies started coverage on shares of Hormel Foods Corporation in a research note on Monday, January 9th. They set an “overweight” rating and a $40.00 price target for the company. Finally, KeyCorp started coverage on shares of Hormel Foods Corporation in a research note on Thursday, December 1st. They set a “sector weight” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.33.

In related news, Director Robert Nakasone sold 18,502 shares of the company’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $36.03, for a total transaction of $666,627.06. Following the completion of the transaction, the director now owns 143,644 shares in the company, valued at $5,175,493.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James M. Splinter sold 34,262 shares of the company’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $33.94, for a total transaction of $1,162,852.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,164 shares of company stock valued at $1,914,055. 3.54% of the stock is owned by company insiders.

Hormel Foods Corporation Company Profile

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