Curbstone Financial Management Corp Has $1.38 Million Stock Holdings in Hormel Foods Co. (NYSE:HRL)


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Curbstone Financial Management Corp lessened its position in shares of Hormel Foods Co. (NYSE:HRL) by 1.4% during the 1st quarter, HoldingsChannel reports. The fund owned 28,901 shares of the company’s stock after selling 400 shares during the quarter. Curbstone Financial Management Corp’s holdings in Hormel Foods were worth $1,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HRL. Profund Advisors LLC acquired a new position in shares of Hormel Foods during the third quarter valued at $215,000. Morgan Stanley lifted its stake in shares of Hormel Foods by 3.9% during the third quarter. Morgan Stanley now owns 1,344,097 shares of the company’s stock valued at $65,713,000 after acquiring an additional 50,286 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Hormel Foods by 25.5% during the third quarter. Public Sector Pension Investment Board now owns 33,949 shares of the company’s stock valued at $1,660,000 after acquiring an additional 6,900 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Hormel Foods during the third quarter valued at $648,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Hormel Foods by 69.8% during the third quarter. Squarepoint Ops LLC now owns 189,819 shares of the company’s stock valued at $9,280,000 after acquiring an additional 78,019 shares during the period. 42.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE HRL traded up $0.03 during mid-day trading on Thursday, reaching $47.56. 2,994 shares of the company’s stock were exchanged, compared to its average volume of 2,685,872. The firm has a market capitalization of $25.69 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 4.14 and a beta of -0.06. The company has a current ratio of 2.38, a quick ratio of 1.67 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $47.66 and a 200 day simple moving average of $48.00. Hormel Foods Co. has a twelve month low of $43.45 and a twelve month high of $52.97.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, February 17th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. Hormel Foods had a return on equity of 14.55% and a net margin of 9.45%. During the same quarter last year, the firm posted $0.45 earnings per share. Equities research analysts predict that Hormel Foods Co. will post 1.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Monday, April 12th will be given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, April 9th. Hormel Foods’s dividend payout ratio is currently 59.04%.

HRL has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Hormel Foods from $44.00 to $40.00 in a research note on Tuesday, January 19th. Argus lowered Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, December 9th. Finally, Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a research note on Tuesday, February 23rd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Hormel Foods presently has an average rating of “Hold” and a consensus price target of $47.00.

In related news, VP Gary Jamison sold 6,278 shares of the stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $48.23, for a total transaction of $302,787.94. Following the completion of the transaction, the vice president now directly owns 11,777 shares in the company, valued at $568,004.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James N. Sheehan sold 32,400 shares of the stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $46.94, for a total value of $1,520,856.00. Following the transaction, the chief financial officer now owns 48,730 shares of the company’s stock, valued at $2,287,386.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,678 shares of company stock valued at $6,255,814. 0.80% of the stock is owned by corporate 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.

Further Reading: Beta

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

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