Stephens Inc. AR increased its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 5.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 52,365 shares of the company’s stock after purchasing an additional 2,848 shares during the period. Stephens Inc. AR’s holdings in Hormel Foods were worth $2,344,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Twin Capital Management Inc. raised its holdings in Hormel Foods by 1.1% in the 1st quarter. Twin Capital Management Inc. now owns 90,440 shares of the company’s stock worth $4,048,000 after purchasing an additional 1,010 shares during the period. California Public Employees Retirement System raised its holdings in Hormel Foods by 26.4% in the 1st quarter. California Public Employees Retirement System now owns 1,773,805 shares of the company’s stock worth $79,396,000 after purchasing an additional 370,758 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Hormel Foods by 1.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 440,075 shares of the company’s stock worth $19,698,000 after purchasing an additional 6,850 shares during the period. D L Carlson Investment Group Inc. raised its holdings in Hormel Foods by 5.7% in the 1st quarter. D L Carlson Investment Group Inc. now owns 111,252 shares of the company’s stock worth $4,980,000 after purchasing an additional 5,992 shares during the period. Finally, Comerica Bank raised its holdings in Hormel Foods by 88.5% in the 1st quarter. Comerica Bank now owns 445,779 shares of the company’s stock worth $18,611,000 after purchasing an additional 209,354 shares during the period. Hedge funds and other institutional investors own 44.30% of the company’s stock.
HRL has been the subject of a number of analyst reports. Goldman Sachs Group cut Hormel Foods from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $37.00 to $35.00 in a report on Tuesday, April 23rd. Zacks Investment Research upgraded Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, February 28th. Stephens started coverage on Hormel Foods in a research note on Monday, March 4th. They set an “equal weight” rating for the company. JPMorgan Chase & Co. lowered Hormel Foods from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $40.00 to $36.00 in a research note on Tuesday, April 23rd. Finally, Credit Suisse Group reiterated a “hold” rating and set a $39.00 price objective on shares of Hormel Foods in a research note on Thursday, February 21st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.20.
In related news, Director Susan K. Nestegard sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $44.33, for a total value of $443,300.00. Following the completion of the transaction, the director now directly owns 90,196 shares in the company, valued at $3,998,388.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas R. Day sold 6,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $41.91, for a total value of $251,460.00. Following the completion of the transaction, the insider now owns 5,031 shares of the company’s stock, valued at $210,849.21. The disclosure for this sale can be found here. Insiders sold 274,705 shares of company stock valued at $12,116,336 over the last 90 days. Company insiders own 1.11% of the company’s stock.
NYSE:HRL opened at $39.41 on Thursday. Hormel Foods Corp has a 12 month low of $34.12 and a 12 month high of $46.26. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.62 and a beta of 0.12.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.40 billion. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Equities research analysts forecast that Hormel Foods Corp will post 1.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.13%. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.
Hormel Foods Company 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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