Two Sigma Advisers LP Sells 253,700 Shares of Hormel Foods Co. (NYSE:HRL)

Two Sigma Advisers LP lessened its stake in Hormel Foods Co. (NYSE:HRL) by 40.9% during the third quarter, HoldingsChannel reports. The firm owned 366,500 shares of the company’s stock after selling 253,700 shares during the period. Two Sigma Advisers LP’s holdings in Hormel Foods were worth $11,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Hormel Foods in the third quarter valued at $32,000. International Assets Investment Management LLC purchased a new stake in Hormel Foods in the 2nd quarter worth about $34,000. Prospera Private Wealth LLC bought a new stake in Hormel Foods in the 3rd quarter valued at about $39,000. Sentry Investment Management LLC purchased a new stake in Hormel Foods during the second quarter valued at about $42,000. Finally, GAMMA Investing LLC boosted its position in Hormel Foods by 516.9% during the third quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock worth $43,000 after purchasing an additional 1,132 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Hormel Foods stock opened at $33.19 on Tuesday. The firm’s 50 day simple moving average is $31.12 and its 200 day simple moving average is $31.43. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $36.86. The firm has a market capitalization of $18.20 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $0.42 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, analysts expect that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.50%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s dividend payout ratio is 79.45%.

Analysts Set New Price Targets

Several research firms have recently issued reports on HRL. BNP Paribas began coverage on shares of Hormel Foods in a research report on Monday, October 21st. They issued an “underperform” rating and a $28.00 price target on the stock. Stephens started coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. Finally, Citigroup cut their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.29.

Insider Activity at Hormel Foods

In related news, VP Steven J. Lykken sold 9,800 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.91, for a total value of $312,718.00. Following the completion of the transaction, the vice president now directly owns 30,589 shares in the company, valued at approximately $976,094.99. The trade was a 24.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the sale, the executive vice president now owns 72,421 shares in the company, valued at $2,313,850.95. The trade was a 41.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,400 shares of company stock valued at $2,288,338 over the last three months. 0.69% of the stock is owned by corporate insiders.

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.