Sei Investments Co. Has $7.95 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Sei Investments Co. lifted its holdings in Hormel Foods Co. (NYSE:HRL) by 23.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,674 shares of the company’s stock after purchasing an additional 49,995 shares during the period. Sei Investments Co.’s holdings in Hormel Foods were worth $7,947,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HRL. Corient Private Wealth LLC boosted its stake in shares of Hormel Foods by 63.7% during the 4th quarter. Corient Private Wealth LLC now owns 39,456 shares of the company’s stock worth $1,267,000 after acquiring an additional 15,356 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Hormel Foods by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 106,440 shares of the company’s stock valued at $3,418,000 after acquiring an additional 2,079 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Hormel Foods by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 200,874 shares of the company’s stock valued at $6,450,000 after purchasing an additional 1,320 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Hormel Foods by 32.1% in the fourth quarter. Bank of Nova Scotia now owns 38,162 shares of the company’s stock worth $1,225,000 after purchasing an additional 9,282 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Hormel Foods during the 4th quarter worth about $1,114,000. 40.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and raised their target price for the company from $33.00 to $37.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.33.

Hormel Foods Stock Up 0.5 %

Shares of HRL opened at $31.72 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. The company has a 50-day simple moving average of $32.02 and a 200-day simple moving average of $32.82. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $38.56. The firm has a market capitalization of $17.39 billion, a P/E ratio of 22.66, a P/E/G ratio of 3.11 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. On average, equities research analysts expect that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Hormel Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.282 dividend. This represents a $1.13 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s dividend payout ratio (DPR) is presently 80.71%.

Insider Activity

In other news, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction dated 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 sale, the executive vice president now directly owns 72,421 shares in the company, valued at approximately $2,313,850.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction that occurred on 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 of the company’s stock, valued at $2,313,850.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the transaction, the senior vice president now directly owns 39,050 shares of the company’s stock, valued at $1,276,935. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

About Hormel Foods

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.