1,016 Shares in Hormel Foods Co. (NYSE:HRL) Purchased by Brooklyn Investment Group

Brooklyn Investment Group acquired a new stake in Hormel Foods Co. (NYSE:HRL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,016 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds have also added to or reduced their stakes in HRL. Empower Advisory Group LLC increased its position in Hormel Foods by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock valued at $306,000 after purchasing an additional 342 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Hormel Foods by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock worth $959,000 after buying an additional 384 shares during the period. Keynote Financial Services LLC boosted its position in Hormel Foods by 3.7% during the 3rd quarter. Keynote Financial Services LLC now owns 13,202 shares of the company’s stock valued at $419,000 after acquiring an additional 472 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Hormel Foods by 1.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 41,751 shares of the company’s stock worth $1,273,000 after acquiring an additional 485 shares in the last quarter. Finally, Accredited Investors Inc. lifted its stake in shares of Hormel Foods by 4.0% during the 2nd quarter. Accredited Investors Inc. now owns 13,925 shares of the company’s stock worth $425,000 after purchasing an additional 533 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HRL. Citigroup cut their target price on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Stephens assumed coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price objective on the stock. Finally, BNP Paribas began coverage on shares of Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price for the company. Two 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 has a consensus rating of “Hold” and an average target price of $31.29.

Insider Transactions at Hormel Foods

In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the completion of the transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. This trade represents a 41.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were 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 directly owns 39,050 shares in the company, valued at $1,276,935. This trade represents a 20.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $2,288,338 over the last three months. 0.69% of the stock is currently owned by insiders.

Hormel Foods Stock Up 1.6 %

HRL stock opened at $32.43 on Friday. The stock has a market capitalization of $17.78 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 3.38 and a beta of 0.26. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $36.86. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $31.01 and a 200 day moving average of $31.61.

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

Hormel Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, January 13th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. Hormel Foods’s payout ratio is presently 79.58%.

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.