Dynamic Advisor Solutions LLC Sells 1,700 Shares of Hormel Foods Co. (NYSE:HRL)

Dynamic Advisor Solutions LLC lessened its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 16.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,909 shares of the company’s stock after selling 1,700 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Hormel Foods were worth $282,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC grew its stake in Hormel Foods by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock worth $196,729,000 after acquiring an additional 505,942 shares in the last quarter. Millennium Management LLC raised its position in Hormel Foods by 15.4% during the 2nd quarter. Millennium Management LLC now owns 3,089,868 shares of the company’s stock valued at $94,210,000 after purchasing an additional 412,313 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Hormel Foods by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock worth $90,738,000 after buying an additional 575,378 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Hormel Foods by 97.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after buying an additional 1,434,437 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Hormel Foods by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,772,481 shares of the company’s stock valued at $54,043,000 after acquiring an additional 6,315 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HRL. Stephens initiated coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. Citigroup raised shares of Hormel Foods from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $37.00 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.17.

Insider Activity at Hormel Foods

In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction dated 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 of the company’s stock, valued at approximately $1,276,935. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction that occurred 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 approximately $1,276,935. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deanna T. Brady sold 51,600 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 72,421 shares in the company, valued at $2,313,850.95. 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 valued at $2,288,338 in the last ninety days. Company insiders own 0.69% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $31.08 on Monday. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $36.86. The business’s fifty day simple moving average is $31.89 and its 200-day simple moving average is $32.61. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The company has a market cap of $17.04 billion, a PE ratio of 22.20, a PEG ratio of 3.06 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 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 company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the business posted $0.40 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. Analysts expect that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.282 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s dividend payout ratio (DPR) is presently 80.71%.

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.