US Bancorp DE Has $19.21 Million Stock Holdings in Hormel Foods Co. (NYSE:HRL)

US Bancorp DE lessened its stake in shares of Hormel Foods Co. (NYSE:HRL) by 5.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 605,846 shares of the company’s stock after selling 37,497 shares during the quarter. US Bancorp DE owned about 0.11% of Hormel Foods worth $19,205,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Empirical Finance LLC lifted its stake in shares of Hormel Foods by 3.7% during the 1st quarter. Empirical Finance LLC now owns 9,912 shares of the company’s stock worth $346,000 after buying an additional 352 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Hormel Foods by 1.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock worth $959,000 after buying an additional 384 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Hormel Foods by 2.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 20,291 shares of the company’s stock worth $708,000 after buying an additional 389 shares during the last quarter. Viawealth LLC increased its position in Hormel Foods by 2.4% during the first quarter. Viawealth LLC now owns 17,126 shares of the company’s stock worth $598,000 after acquiring an additional 401 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Hormel Foods by 1.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 41,751 shares of the company’s stock worth $1,273,000 after acquiring an additional 485 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

HRL stock opened at $30.92 on Friday. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $36.86. The firm has a market cap of $16.96 billion, a P/E ratio of 21.77, a P/E/G ratio of 3.46 and a beta of 0.25. The company’s 50-day moving average price is $31.61 and its two-hundred day moving average price is $32.25.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the firm earned $0.40 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.282 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.65%. Hormel Foods’s payout ratio is currently 79.58%.

Insider Activity

In other news, VP Steven J. Lykken sold 9,800 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 30,589 shares in the company, valued at approximately $976,094.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction that occurred on 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 directly owns 72,421 shares in the company, valued at approximately $2,313,850.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Steven J. Lykken sold 9,800 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the completion of the sale, the vice president now owns 30,589 shares in the company, valued at approximately $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,400 shares of company stock worth $2,288,338. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

HRL has been the topic of a number of recent research reports. Citigroup raised shares of Hormel Foods from a “neutral” rating to a “buy” rating and raised their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, August 13th. BNP Paribas initiated coverage on shares of Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 price target on the stock. Finally, Stephens initiated coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average target price of $31.57.

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.