Dynamic Technology Lab Private Ltd Makes New Investment in Hormel Foods Co. (NYSE:HRL)

Dynamic Technology Lab Private Ltd bought a new position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,747 shares of the company's stock, valued at approximately $1,052,000.

A number of other large investors have also recently made changes to their positions in HRL. Teacher Retirement System of Texas lifted its stake in Hormel Foods by 2.4% during the third quarter. Teacher Retirement System of Texas now owns 23,279 shares of the company's stock worth $885,000 after purchasing an additional 550 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of Hormel Foods by 7.1% in the 3rd quarter. New Mexico Educational Retirement Board now owns 15,046 shares of the company's stock worth $572,000 after acquiring an additional 1,000 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Hormel Foods by 15.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 30,303 shares of the company's stock worth $1,152,000 after purchasing an additional 4,067 shares during the period. Empirical Finance LLC lifted its stake in Hormel Foods by 11.2% in the third quarter. Empirical Finance LLC now owns 9,924 shares of the company's stock worth $377,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in Hormel Foods by 4.1% during the third quarter. Main Street Financial Solutions LLC now owns 49,077 shares of the company's stock valued at $1,866,000 after buying an additional 1,952 shares during the period. 40.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Mark A. Coffey sold 15,400 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total transaction of $539,000.00. Following the transaction, the vice president now owns 68,029 shares in the company, valued at $2,381,015. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total value of $349,500.00. Following the transaction, the senior vice president now owns 38,708 shares in the company, valued at approximately $1,352,844.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark A. Coffey sold 15,400 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the transaction, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,381,015. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,800 shares of company stock valued at $1,414,872. Corporate insiders own 0.69% of the company's stock.

Hormel Foods Stock Down 0.9 %

Shares of HRL stock traded down $0.34 during mid-day trading on Tuesday, reaching $36.43. 2,305,493 shares of the company's stock traded hands, compared to its average volume of 2,888,816. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $34.99 and its 200-day moving average price is $32.78. The company has a market cap of $19.95 billion, a P/E ratio of 24.95, a P/E/G ratio of 3.50 and a beta of 0.28. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $41.73.

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

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a dividend yield of 3.10%. Hormel Foods's dividend payout ratio (DPR) is currently 77.40%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HRL shares. Barclays raised their price target on Hormel Foods from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, March 1st. Citigroup assumed coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They issued a "neutral" rating and a $31.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Hormel Foods from $27.00 to $28.00 and gave the company an "underweight" rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group boosted their target price on Hormel Foods from $26.00 to $28.00 and gave the company a "sell" rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $31.00.

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.