Hormel Foods Corporation (NYSE:HRL) is expected to pay $0.15 on Nov 15, 2016. The indicated annual dividend is $0.58. Shareholders owning the stock before Oct 20, 2016 will be eligible to receive the payout. Based on Hormel Foods Corporation’s current price of $38.27, the dividend is 0.38%. This dividend’s record date is Oct 24, 2016 and the announcement date is Sep 27, 2016. The stock increased 0.55% or $0.21 during the last trading session, hitting $38.27. Hormel Foods Corp (NYSE:HRL) has declined 13.85% since March 16, 2016 and is downtrending. It has underperformed by 19.39% the S&P500.
Hormel Foods Corporation is a multinational maker and marketer of food and meat products. The company has a market cap of $20.33 billion.
Insitutional Activity: The institutional sentiment decreased to 1.15 in Q2 2016. Its down 6.42, from 7.57 in 2016Q1. The ratio dived, as 66 funds sold all Hormel Foods Corp shares owned while 141 reduced positions. 58 funds bought stakes while 180 increased positions. They now own 173.55 million shares or 50.49% less from 350.56 million shares in 2016Q1.
Moreover, Amer International Gru has 0% invested in Hormel Foods Corp (NYSE:HRL) for 92,320 shares. Hollencrest Securities Limited Liability Corp owns 10,200 shares or 0.06% of their US portfolio. Mutual Of America Ltd Liability Co last reported 0.02% of its portfolio in the stock. Tci Wealth Advsr Incorporated accumulated 0.03% or 1,664 shares. Point72 Asia (Hong Kong) Ltd has 200 shares for 0.01% of their US portfolio. Henderson Grp Public Ltd, a United Kingdom-based fund reported 38,774 shares. Autus Asset Mngmt Ltd Liability Corporation has 0.47% invested in the company for 56,721 shares. Cliftonlarsonallen Wealth Advsrs Limited Company holds 0.21% or 39,732 shares in its portfolio. Kanawha Capital Mgmt Lc owns 6,014 shares or 0.04% of their US portfolio. Mairs & Power holds 4.20 million shares or 2.08% of its portfolio. Van Eck Assoc Corp holds 2,734 shares or 0% of its portfolio. Dorsey And Whitney Com accumulated 179,224 shares or 1.5% of the stock. Sigma Invest Counselors last reported 65,607 shares in the company. Moreover, National Planning has 0.06% invested in Hormel Foods Corp (NYSE:HRL) for 21,832 shares. Oppenheimer And Inc holds 0.13% of its portfolio in Hormel Foods Corp (NYSE:HRL) for 118,431 shares.
Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 7 selling transactions for $3.86 million net activity. Kremin Donald H sold 80,400 shares worth $3.04 million. $15,152 worth of shares were sold by VORPAHL LARRY L on Monday, August 29. Another trade for 12,000 shares valued at $455,743 was made by BINDER STEVEN G on Tuesday, October 11. 5,000 Hormel Foods Corp (NYSE:HRL) shares with value of $183,700 were sold by PIPPINS DAKOTA A. 3,500 shares were sold by Johnson Brian Dean, worth $133,000 on Friday, June 3. 400 shares were sold by Leitch Glenn R, worth $15,348. Brady Deanna T had sold 400 shares worth $15,224 on Wednesday, September 7.
Hormel Foods Corp (NYSE:HRL) Ratings Coverage
Out of 10 analysts covering Hormel Foods Corporation (NYSE:HRL), 4 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 40% are positive. $80 is the highest target while $38 is the lowest. The $61.38 average target is 60.39% above today’s ($38.27) stock price. Hormel Foods Corporation has been the topic of 20 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, August 22 by Credit Suisse. The firm has “Hold” rating by Deutsche Bank given on Monday, December 14. As per Wednesday, August 24, the company rating was upgraded by Edward Jones. The stock of Hormel Foods Corp (NYSE:HRL) has “Neutral” rating given on Wednesday, November 25 by Credit Suisse. The firm earned “Buy” rating on Friday, September 16 by Edward Jones. The stock of Hormel Foods Corp (NYSE:HRL) earned “Equal Weight” rating by Stephens on Thursday, September 17. The rating was initiated by Jefferies with “Buy” on Wednesday, December 16. Jefferies maintained it with “Hold” rating and $38 target price in Wednesday, July 27 report. On Wednesday, November 25 the stock rating was upgraded by Stephens to “Overweight”. BB&T Capital initiated the shares of HRL in a report on Wednesday, September 9 with “Hold” rating.
Another recent and important Hormel Foods Corp (NYSE:HRL) news was published by Businesswire.com which published an article titled: “Hormel Foods Corporation Declares Quarterly Dividend” on September 22, 2016.
HRL Company Profile
Hormel Foods Corporation, incorporated on September 20, 1928, is engaged in the production of a range of meat and food products and the marketing of those products throughout the United States and internationally. The Firm operates through five divisions: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store (JOTS), Specialty Foods, and International & Other. The Company’s products consist of meat and other food products. The meat products are sold fresh, frozen, cured, smoked, cooked and canned. Internationally, the Company markets its products through its subsidiary, Hormel Foods International Corporation (HFIC). The Firm offers its products under perishable, poultry, shelf-stable and miscellaneous categories. The Perishable category includes fresh meats, frozen items, refrigerated meal solutions, sausages, hams, wieners, guacamole and bacon. The Poultry category is composed of JOTS products. The Shelf-stable category includes canned luncheon meats, shelf-stable microwaveable meals, stews, chilies, hash, meat spreads, flour and corn tortillas, salsas, tortilla chips, peanut butter and other items that do not require refrigeration. The Miscellaneous category consists of nutritional food products and supplements, sugar and sugar substitutes, dessert and drink mixes, and industrial gelatin products.
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