Sciencast Management LP Sells 15,948 Shares of Hormel Foods Co. (NYSE:HRL)

Sciencast Management LP reduced its position in shares of Hormel Foods Co. (NYSE:HRL) by 48.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,911 shares of the company’s stock after selling 15,948 shares during the quarter. Sciencast Management LP’s holdings in Hormel Foods were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HRL. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Hormel Foods by 2.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 247,273 shares of the company’s stock valued at $11,815,000 after purchasing an additional 5,376 shares during the last quarter. Terry L. Blaker increased its holdings in shares of Hormel Foods by 12.9% in the first quarter. Terry L. Blaker now owns 95,952 shares of the company’s stock valued at $4,583,000 after purchasing an additional 10,964 shares during the last quarter. Inspire Advisors LLC acquired a new position in shares of Hormel Foods in the fourth quarter valued at $39,000. Forsta AP Fonden increased its holdings in shares of Hormel Foods by 135.3% in the first quarter. Forsta AP Fonden now owns 92,700 shares of the company’s stock valued at $4,429,000 after purchasing an additional 53,300 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Hormel Foods in the fourth quarter valued at $1,245,000. 40.44% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a research note on Friday, May 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.00.

HRL stock opened at $48.67 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.99 and a quick ratio of 1.94. The company has a 50-day simple moving average of $47.54. Hormel Foods Co. has a 52 week low of $43.45 and a 52 week high of $52.97. The firm has a market capitalization of $26.38 billion, a P/E ratio of 29.86, a PEG ratio of 4.51 and a beta of -0.07.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, May 19th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Hormel Foods had a net margin of 8.99% and a return on equity of 13.68%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. Hormel Foods’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Hormel Foods Co. will post 1.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Monday, July 12th will be given a dividend of $0.245 per share. The ex-dividend date is Friday, July 9th. This represents a $0.98 annualized dividend and a yield of 2.01%. Hormel Foods’s dividend payout ratio is 59.04%.

In other news, SVP Mark A. Coffey sold 25,000 shares of the stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $48.49, for a total value of $1,212,250.00. Following the completion of the transaction, the senior vice president now owns 45,564 shares of the company’s stock, valued at $2,209,398.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elsa A. Murano sold 6,000 shares of the stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $48.06, for a total transaction of $288,360.00. Following the completion of the transaction, the director now directly owns 99,469 shares of the company’s stock, valued at approximately $4,780,480.14. The disclosure for this sale can be found here. Insiders have sold 43,478 shares of company stock valued at $2,110,298 in the last ninety days. 0.80% of the stock is currently owned by company insiders.

Hormel Foods Company Profile

Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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