International Assets Investment Management LLC Has $12.82 Million Position in Hormel Foods Co. (NYSE:HRL)

International Assets Investment Management LLC grew its position in shares of Hormel Foods Co. (NYSE:HRL) by 3,481.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,432 shares of the company’s stock after acquiring an additional 39,303 shares during the quarter. International Assets Investment Management LLC’s holdings in Hormel Foods were worth $12,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of HRL. EverSource Wealth Advisors LLC boosted its holdings in Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 647 shares during the last quarter. Central Valley Advisors LLC purchased a new position in Hormel Foods during the 2nd quarter worth $37,000. Sentry Investment Management LLC purchased a new position in Hormel Foods during the 2nd quarter worth $42,000. GAMMA Investing LLC boosted its holdings in Hormel Foods by 516.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock worth $43,000 after acquiring an additional 1,132 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Hormel Foods by 149.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $57,000 after acquiring an additional 1,122 shares during the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Deanna T. Brady sold 51,600 shares of the company’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 sale, the executive vice president now directly owns 72,421 shares in the company, valued at $2,313,850.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Deanna T. Brady sold 51,600 shares of the company’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 sale, the executive vice president now directly owns 72,421 shares in the company, valued at $2,313,850.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the transaction, the vice president now directly owns 30,589 shares of the company’s stock, valued at $976,094.99. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,400 shares of company stock worth $2,288,338 over the last ninety days. Company insiders own 0.69% of the company’s stock.

Hormel Foods Trading Down 0.2 %

Shares of Hormel Foods stock opened at $30.63 on Thursday. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $36.86. The stock’s 50-day simple moving average is $31.66 and its 200 day simple moving average is $32.29. The stock has a market capitalization of $16.80 billion, a P/E ratio of 21.57, a P/E/G ratio of 3.07 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business posted $0.40 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current year.

Hormel Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given 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 of this dividend is Tuesday, October 15th. Hormel Foods’s dividend payout ratio is presently 79.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stephens assumed coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price target on the stock. BNP Paribas assumed 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 raised shares of Hormel Foods from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $37.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.57.

Hormel Foods 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.