IndexIQ Advisors LLC trimmed its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,498 shares of the company’s stock after selling 10,047 shares during the quarter. IndexIQ Advisors LLC’s holdings in Hormel Foods were worth $7,005,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Enlightenment Research LLC purchased a new position in Hormel Foods in the fourth quarter valued at about $30,000. Acima Private Wealth LLC purchased a new position in Hormel Foods in the fourth quarter valued at about $34,000. Bremer Trust National Association purchased a new position in Hormel Foods in the fourth quarter valued at about $43,000. We Are One Seven LLC purchased a new position in Hormel Foods in the fourth quarter valued at about $45,000. Finally, FTB Advisors Inc. boosted its holdings in Hormel Foods by 62.7% in the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares in the last quarter. Institutional investors and hedge funds own 44.30% of the company’s stock.

In related news, VP Lori J. Marco sold 13,000 shares of Hormel Foods stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $41.56, for a total transaction of $540,280.00. Following the completion of the sale, the vice president now owns 48,304 shares of the company’s stock, valued at $2,007,514.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.13, for a total value of $189,585.00. Following the sale, the director now directly owns 101,067 shares of the company’s stock, valued at approximately $4,257,952.71. The disclosure for this sale can be found here. Insiders have sold 274,705 shares of company stock valued at $12,116,336 in the last ninety days. Corporate insiders own 1.11% of the company’s stock.

Several equities research analysts have weighed in on the company. Goldman Sachs Group downgraded Hormel Foods from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $37.00 to $35.00 in a report on Tuesday, April 23rd. JPMorgan Chase & Co. downgraded Hormel Foods from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $40.00 to $36.00 in a report on Tuesday, April 23rd. ValuEngine downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Stephens assumed coverage on Hormel Foods in a report on Monday, March 4th. They issued an “equal weight” rating for the company. Finally, Zacks Investment Research downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $40.20.

Hormel Foods stock opened at $39.41 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.77. Hormel Foods Corp has a 52 week low of $34.12 and a 52 week high of $46.26. The stock has a market cap of $21.20 billion, a P/E ratio of 20.85, a PEG ratio of 2.62 and a beta of 0.12.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 21st. The company reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Hormel Foods Corp will post 1.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is 44.44%.

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Hormel Foods Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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