Hormel Foods Co. (NYSE:HRL) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its holdings in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 82.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 85,671 shares of the company's stock after selling 408,638 shares during the period. DekaBank Deutsche Girozentrale's holdings in Hormel Foods were worth $2,739,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Hormel Foods by 30.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,273 shares of the company's stock valued at $467,000 after purchasing an additional 2,867 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hormel Foods by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,626,471 shares of the company's stock worth $61,855,000 after acquiring an additional 35,731 shares during the last quarter. Mirabella Financial Services LLP acquired a new stake in Hormel Foods in the third quarter worth $1,164,000. Stifel Financial Corp boosted its position in shares of Hormel Foods by 7.2% during the third quarter. Stifel Financial Corp now owns 2,510,004 shares of the company's stock worth $95,455,000 after purchasing an additional 167,920 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Hormel Foods in the 3rd quarter valued at $1,537,000. Institutional investors own 40.99% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on HRL shares. Citigroup began coverage on Hormel Foods in a research note on Thursday, February 1st. They set a "neutral" rating and a $31.00 price objective on the stock. Barclays lifted their price objective on Hormel Foods from $33.00 to $35.00 and gave the company an "equal weight" rating in a report on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an "underweight" rating in a research report on Friday, March 1st. The Goldman Sachs Group raised their target price on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a "sell" rating in a report on Friday, March 1st. Finally, Piper Sandler upped their price target on shares of Hormel Foods from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $31.00.

Insiders Place Their Bets

In other news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.18, for a total transaction of $526,372.00. Following the completion of the sale, the vice president now owns 68,029 shares of the company's stock, valued at $2,325,231.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the transaction, the vice president now directly owns 68,029 shares of the company's stock, valued at $2,325,231.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total transaction of $349,500.00. Following the sale, the senior vice president now directly owns 38,708 shares in the company, valued at $1,352,844.60. The disclosure for this sale can be found here. Insiders have sold a total of 40,800 shares of company stock valued at $1,414,872 over the last 90 days. 0.69% of the stock is currently owned by insiders.

Hormel Foods Stock Down 2.1 %

Shares of NYSE:HRL traded down $0.73 during mid-day trading on Friday, reaching $33.93. 3,025,844 shares of the stock were exchanged, compared to its average volume of 2,639,428. The company has a market cap of $18.58 billion, a P/E ratio of 23.24, a P/E/G ratio of 3.38 and a beta of 0.27. The stock's 50 day simple moving average is $32.76 and its 200-day simple moving average is $32.61. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. Hormel Foods Co. has a one year low of $28.51 and a one year high of $41.73.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $2.91 billion. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. As a group, equities research analysts predict that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, March 25th will be paid a dividend of $0.2825 per share. The ex-dividend date is Friday, April 12th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.33%. Hormel Foods's dividend payout ratio is 77.40%.

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.