Two Sigma Advisers LP Cuts Stock Position in Hormel Foods Co. (NYSE:HRL)

Two Sigma Advisers LP lessened its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 40.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 366,500 shares of the company's stock after selling 253,700 shares during the quarter. Two Sigma Advisers LP owned approximately 0.07% of Hormel Foods worth $11,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Hormel Foods in the 3rd quarter worth $32,000. International Assets Investment Management LLC acquired a new stake in Hormel Foods during the 2nd quarter worth $34,000. Prospera Private Wealth LLC acquired a new stake in Hormel Foods during the 3rd quarter worth $39,000. GAMMA Investing LLC boosted its stake in Hormel Foods by 516.9% during the 3rd 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 last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Hormel Foods during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Up 1.1 %

Shares of HRL stock traded up $0.37 on Tuesday, hitting $33.55. 2,386,782 shares of the stock traded hands, compared to its average volume of 2,597,973. The firm's 50-day moving average price is $31.12 and its two-hundred day moving average price is $31.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The stock has a market capitalization of $18.40 billion, a PE ratio of 22.98, a PEG ratio of 3.08 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.

Hormel Foods (NYSE:HRL - Get Free Report) last announced 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). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company's revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, analysts anticipate that Hormel Foods Co. will post 1.65 EPS for the current year.

Hormel Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be given a $0.29 dividend. The ex-dividend date is Monday, January 13th. This represents a $1.16 dividend on an annualized basis and a yield of 3.46%. This is a boost from Hormel Foods's previous quarterly dividend of $0.28. Hormel Foods's dividend payout ratio is presently 79.45%.

Wall Street Analyst Weigh In

HRL has been the topic of several recent research reports. Citigroup lowered their target price on shares of Hormel Foods from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, November 19th. BNP Paribas initiated coverage on shares of Hormel Foods in a research note on Monday, October 21st. They set an "underperform" rating and a $28.00 target price on the stock. Finally, Stephens initiated coverage on shares of Hormel Foods in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $31.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $31.29.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the company'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 transaction, the executive vice president now owns 72,421 shares of the company's stock, valued at $2,313,850.95. This represents a 41.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin L. Myers sold 10,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the sale, the senior vice president now owns 39,050 shares in the company, valued at $1,276,935. This trade represents a 20.39 % decrease in their ownership of the stock. 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 90 days. 0.69% of the stock is owned by 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.