Gateway Investment Advisers LLC raised its position in shares of Hormel Foods Corp (NYSE:HRL) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,534 shares of the company’s stock after buying an additional 33 shares during the period. Gateway Investment Advisers LLC’s holdings in Hormel Foods Corp were worth $564,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Hormel Foods Corp by 1,105.9% in the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock worth $657,673,000 after buying an additional 17,416,591 shares in the last quarter. State Street Corp increased its position in shares of Hormel Foods Corp by 93.3% in the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock worth $1,042,171,000 after buying an additional 14,529,149 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Hormel Foods Corp by 738.9% in the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock worth $87,700,000 after buying an additional 2,230,574 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Hormel Foods Corp by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after buying an additional 1,608,528 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in shares of Hormel Foods Corp during the first quarter worth about $50,220,000. 38.35% of the stock is currently owned by institutional investors.
Shares of Hormel Foods Corp (HRL) opened at 34.01 on Friday. The stock has a market cap of $17.98 billion, a P/E ratio of 20.74 and a beta of 0.56. The company has a 50 day moving average price of $33.65 and a 200-day moving average price of $34.66. Hormel Foods Corp has a 12 month low of $32.26 and a 12 month high of $40.00.
Hormel Foods Corp (NYSE:HRL) last issued its earnings results on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by $0.01. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.22 billion. Hormel Foods Corp had a return on equity of 18.28% and a net margin of 9.64%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. On average, equities research analysts predict that Hormel Foods Corp will post $1.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corp’s dividend payout ratio is currently 41.46%.
Several analysts have recently commented on the company. Zacks Investment Research raised Hormel Foods Corp from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Credit Suisse Group lowered their price objective on Hormel Foods Corp from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 26th. BidaskClub downgraded Hormel Foods Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Hormel Foods Corp in a report on Friday, June 16th. Finally, Mizuho assumed coverage on Hormel Foods Corp in a report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.27.
In other Hormel Foods Corp news, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total value of $372,376.77. Following the sale, the insider now owns 24,838 shares in the company, valued at approximately $830,334.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the completion of the sale, the insider now owns 22,532 shares in the company, valued at approximately $784,338.92. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.
About Hormel Foods Corp
Receive News & Ratings for Hormel Foods Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp and related companies with MarketBeat.com's FREE daily email newsletter.