Leisure Capital Management Has $632,000 Position in Hormel Foods Co. (NYSE:HRL)

Leisure Capital Management lifted its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 15.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,931 shares of the company’s stock after buying an additional 2,633 shares during the period. Leisure Capital Management’s holdings in Hormel Foods were worth $632,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Nomura Holdings Inc. raised its position in shares of Hormel Foods by 4.7% in the fourth quarter. Nomura Holdings Inc. now owns 31,967 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,443 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Hormel Foods by 21.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 571,252 shares of the company’s stock valued at $19,931,000 after acquiring an additional 102,141 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Hormel Foods during the first quarter valued at about $2,231,000. Canada Pension Plan Investment Board raised its stake in shares of Hormel Foods by 26.2% during the second quarter. Canada Pension Plan Investment Board now owns 735,246 shares of the company’s stock valued at $22,418,000 after acquiring an additional 152,800 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Hormel Foods in the first quarter worth approximately $756,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Trading Up 0.1 %

HRL traded up $0.04 during trading on Wednesday, hitting $31.18. 306,954 shares of the stock traded hands, compared to its average volume of 2,629,267. The firm has a 50-day moving average of $31.86 and a 200 day moving average of $32.55. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $36.86. The firm has a market capitalization of $17.10 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 3.06 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03.

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

Hormel Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.282 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.13 annualized dividend and a dividend yield of 3.62%. Hormel Foods’s dividend payout ratio is 80.71%.

Insider Activity at Hormel Foods

In other 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 sale, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at $2,313,850.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total transaction of $327,000.00. Following the completion of the sale, the senior vice president now directly owns 39,050 shares in the company, valued at approximately $1,276,935. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deanna T. Brady sold 51,600 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the completion of the transaction, the executive vice president now owns 72,421 shares in the company, valued at approximately $2,313,850.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,400 shares of company stock worth $2,288,338 over the last 90 days. 0.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup raised shares of Hormel Foods from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $37.00 in a research note on Tuesday, August 13th. Stephens began coverage on Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and a consensus target price of $32.17.

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.