TAP Consulting LLC purchased a new position in shares of Hormel Foods Corp (NYSE:HRL) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 30,721 shares of the company’s stock, valued at approximately $1,375,000.
A number of other large investors also recently made changes to their positions in HRL. Enlightenment Research LLC acquired a new stake in Hormel Foods during the 4th quarter worth $30,000. Acima Private Wealth LLC acquired a new stake in Hormel Foods during the 4th quarter worth $34,000. Bremer Trust National Association acquired a new stake in Hormel Foods during the 4th quarter worth $43,000. We Are One Seven LLC acquired a new stake in Hormel Foods during the 4th quarter worth $45,000. Finally, FTB Advisors Inc. raised its stake in Hormel Foods by 62.7% during the 4th 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. Hedge funds and other institutional investors own 43.87% of the company’s stock.
HRL has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $44.00 price target on shares of Hormel Foods in a research note on Thursday, February 21st. Credit Suisse Group reissued a “hold” rating and set a $39.00 price objective on shares of Hormel Foods in a research report on Thursday, February 21st. Zacks Investment Research raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Thursday, February 28th. Stephens started coverage on shares of Hormel Foods in a research report on Monday, March 4th. They set an “equal weight” rating on the stock. Finally, ValuEngine downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.20.
Shares of Hormel Foods stock opened at $39.86 on Friday. Hormel Foods Corp has a 1 year low of $34.12 and a 1 year high of $46.26. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.62 and a beta of 0.12.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Hormel Foods had a net margin of 9.93% and a return on equity of 17.58%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm posted $0.56 EPS. Hormel Foods’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts forecast that Hormel Foods Corp will post 1.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, April 12th. Hormel Foods’s payout ratio is 44.44%.
In other news, Director Glenn S. Forbes sold 4,695 shares of Hormel Foods stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $43.00, for a total value of $201,885.00. Following the sale, the director now owns 49,481 shares of the company’s stock, valued at $2,127,683. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.13, for a total transaction of $189,585.00. Following the completion of the sale, the director now directly owns 101,067 shares in the company, valued at approximately $4,257,952.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 274,705 shares of company stock worth $12,116,336. Insiders own 1.11% of the company’s stock.
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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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