Trade Report: Today, Hormel Foods Corp. (HRL) Position Decreased by UBS Asset Management Americas Inc.

Today, Hormel Foods Corp. (HRL) Position Decreased by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. decreased its position in shares of Hormel Foods Corp. (NYSE:HRL) by 7.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,929,656 shares of the company’s stock after selling 243,285 shares during the period. UBS Asset Management Americas Inc. owned 0.55% of Hormel Foods Corp. worth $111,121,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Hormel Foods Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,503,290 shares of the company’s stock worth $1,006,620,000 after buying an additional 477,355 shares in the last quarter. State Street Corp boosted its stake in shares of Hormel Foods Corp. by 0.8% in the second quarter. State Street Corp now owns 14,725,146 shares of the company’s stock worth $538,944,000 after buying an additional 109,675 shares in the last quarter. Janus Capital Management LLC boosted its stake in shares of Hormel Foods Corp. by 29.0% in the second quarter. Janus Capital Management LLC now owns 5,179,159 shares of the company’s stock worth $189,557,000 after buying an additional 1,163,942 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Hormel Foods Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 4,834,016 shares of the company’s stock worth $176,925,000 after buying an additional 233,925 shares in the last quarter. Finally, Mairs & Power INC boosted its stake in shares of Hormel Foods Corp. by 15.6% in the second quarter. Mairs & Power INC now owns 4,203,560 shares of the company’s stock worth $153,850,000 after buying an additional 566,861 shares in the last quarter. Institutional investors and hedge funds own 34.56% of the company’s stock.

Shares of Hormel Foods Corp. (NYSE:HRL) traded up 1.604% during mid-day trading on Friday, hitting $35.795. 961,189 shares of the stock traded hands. The stock has a 50-day moving average of $37.05 and a 200 day moving average of $36.75. The stock has a market cap of $18.94 billion, a PE ratio of 23.244 and a beta of 0.52. Hormel Foods Corp. has a one year low of $33.70 and a one year high of $45.72.

Hormel Foods Corp. (NYSE:HRL) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Hormel Foods Corp. had a return on equity of 20.75% and a net margin of 9.35%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. Equities analysts predict that Hormel Foods Corp. will post $1.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 17th will be issued a dividend of $0.17 per share. This is a positive change from Hormel Foods Corp.’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, January 12th. Hormel Foods Corp.’s dividend payout ratio is presently 35.37%.

A number of research analysts recently weighed in on HRL shares. Zacks Investment Research upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday. Edward Jones upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Vetr upgraded shares of Hormel Foods Corp. from a “buy” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Tuesday, October 4th. BMO Capital Markets upgraded shares of Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Friday, August 19th. Finally, Jefferies Group restated a “hold” rating on shares of Hormel Foods Corp. in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $40.22.

In related news, VP Brian Dean Johnson sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $38.00, for a total value of $133,000.00. Following the transaction, the vice president now owns 26,119 shares in the company, valued at $992,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven G. Binder sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $37.98, for a total transaction of $455,760.00. Following the completion of the transaction, the insider now owns 41,622 shares in the company, valued at approximately $1,580,803.56. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.

Hormel Foods Corp. Company Profile

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