Quantinno Capital Management LP Grows Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Quantinno Capital Management LP lifted its position in shares of Hormel Foods Co. (NYSE:HRL) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,156 shares of the company’s stock after purchasing an additional 424 shares during the period. Quantinno Capital Management LP’s holdings in Hormel Foods were worth $354,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Hormel Foods by 4.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,417 shares of the company’s stock worth $25,944,000 after buying an additional 34,589 shares during the last quarter. Citigroup Inc. lifted its stake in Hormel Foods by 13.1% in the third quarter. Citigroup Inc. now owns 452,510 shares of the company’s stock worth $14,345,000 after acquiring an additional 52,457 shares during the period. Grandfield & Dodd LLC boosted its holdings in Hormel Foods by 2.9% in the third quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company’s stock valued at $29,302,000 after acquiring an additional 26,390 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Hormel Foods by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock valued at $58,548,000 after purchasing an additional 66,261 shares during the period. Finally, Qsemble Capital Management LP bought a new position in Hormel Foods in the 3rd quarter worth $1,025,000. 40.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on HRL shares. 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 price target on the stock. BNP Paribas assumed coverage on Hormel Foods in a report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price on the stock. Finally, Citigroup lowered their target price on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.29.

Hormel Foods Stock Down 0.3 %

HRL stock opened at $32.94 on Monday. The business has a 50 day moving average of $31.26 and a 200 day moving average of $31.39. The firm has a market cap of $18.08 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 3.14 and a beta of 0.26. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $36.86. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share 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 for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. Hormel Foods’s revenue was down 1.9% compared to the same quarter last year. On average, research analysts forecast that Hormel Foods Co. will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently declared 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. 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%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. Hormel Foods’s dividend payout ratio (DPR) is 79.45%.

Insider Buying and Selling

In related news, VP Steven J. Lykken purchased 4,904 shares of Hormel Foods stock in a transaction dated Friday, December 6th. The stock was purchased at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the purchase, the vice president now directly owns 7,100 shares of the company’s stock, valued at $230,537. The trade was a 223.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $32.70, for a total transaction of $327,000.00. Following the transaction, the senior vice president now owns 39,050 shares in the company, valued at approximately $1,276,935. This trade represents a 20.39 % decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.

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.