Janus Henderson Group PLC Has $1.37 Million Stake in Hormel Foods Co. (NYSE:HRL)

Janus Henderson Group PLC grew its position in Hormel Foods Co. (NYSE:HRL) by 21.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,224 shares of the company’s stock after buying an additional 7,600 shares during the quarter. Janus Henderson Group PLC’s holdings in Hormel Foods were worth $1,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Hormel Foods by 1.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 85,530 shares of the company’s stock valued at $2,608,000 after purchasing an additional 1,072 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Hormel Foods by 18.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 77,364 shares of the company’s stock valued at $2,359,000 after acquiring an additional 12,026 shares during the last quarter. Swedbank AB raised its stake in Hormel Foods by 8.3% during the second quarter. Swedbank AB now owns 314,725 shares of the company’s stock worth $9,596,000 after acquiring an additional 24,100 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Hormel Foods by 6.4% in the second quarter. Nisa Investment Advisors LLC now owns 16,543 shares of the company’s stock worth $504,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Accredited Investors Inc. boosted its stake in shares of Hormel Foods by 4.0% in the 2nd quarter. Accredited Investors Inc. now owns 13,925 shares of the company’s stock valued at $425,000 after purchasing an additional 533 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Insider Transactions at Hormel Foods

In other news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the completion of the sale, the senior vice president now owns 39,050 shares in the company, valued at $1,276,935. The trade was a 20.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Steven J. Lykken bought 4,904 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the acquisition, the vice president now owns 7,100 shares in the company, valued at $230,537. This represents a 223.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on HRL shares. Stephens started coverage on shares of Hormel Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price objective for the company. Citigroup cut their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Finally, BNP Paribas started coverage on Hormel Foods in a research report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.29.

Hormel Foods Stock Down 0.3 %

Shares of HRL opened at $32.94 on Friday. The stock’s 50-day moving average price is $31.26 and its two-hundred day moving average price is $31.43. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $36.86. The company has a market capitalization of $18.08 billion, a PE ratio of 22.56, a PEG ratio of 3.14 and a beta of 0.26. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, analysts anticipate that Hormel Foods Co. will post 1.65 EPS for the current year.

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a dividend of $0.29 per share. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 13th. This represents a $1.16 annualized dividend and a dividend yield of 3.52%. Hormel Foods’s dividend payout ratio is presently 79.45%.

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.