53,037 Shares in Hormel Foods Corporation $HRL Bought by Machina Capital S.A.S.

Machina Capital S.A.S. purchased a new position in Hormel Foods Corporation (NYSE:HRL) in the third quarter, HoldingsChannel reports. The fund purchased 53,037 shares of the company’s stock, valued at approximately $1,058,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Hormel Foods during the 2nd quarter valued at $489,092,000. Dimensional Fund Advisors LP grew its holdings in Hormel Foods by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,849,174 shares of the company’s stock worth $155,152,000 after acquiring an additional 134,983 shares in the last quarter. Bank of America Corp DE grew its holdings in Hormel Foods by 3.4% during the 1st quarter. Bank of America Corp DE now owns 2,405,895 shares of the company’s stock worth $54,494,000 after acquiring an additional 79,509 shares in the last quarter. Vest Financial LLC increased its position in shares of Hormel Foods by 7.8% in the 2nd quarter. Vest Financial LLC now owns 2,285,103 shares of the company’s stock worth $56,716,000 after purchasing an additional 165,403 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new stake in shares of Hormel Foods in the 1st quarter worth about $44,733,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Barclays reiterated an “overweight” rating and issued a $28.00 price target (down from $30.00) on shares of Hormel Foods in a research note on Wednesday, October 14th. Piper Sandler reissued a “neutral” rating on shares of Hormel Foods in a report on Tuesday, October 6th. Finally, Stephens set a $23.00 price objective on Hormel Foods in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.43.

Insider Activity

In other Hormel Foods news, Chairman William A. Newlands purchased 10,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was acquired at an average cost of $20.10 per share, with a total value of $201,000.00. Following the acquisition, the chairman owned 76,375 shares of the company’s stock, valued at approximately $1,535,137.50. This represents a 15.07% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Hormel Foods Stock Performance

HRL stock opened at $21.86 on Friday. The stock’s 50 day simple moving average is $20.69 and its 200 day simple moving average is $22.75. Hormel Foods Corporation has a 12-month low of $18.96 and a 12-month high of $26.60. The firm has a market cap of $12.03 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.49 and a beta of 0.27. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts predict that Hormel Foods Corporation will post 1.48 EPS for the current year.

Hormel Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Tuesday, October 13th will be given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, October 13th. Hormel Foods’s dividend payout ratio (DPR) is presently 185.71%.

Hormel Foods Company Profile

Hormel Foods Corporation is a branded food company that produces and markets meat and other food products for retail, foodservice and other customers. Its offerings include pork, turkey and other meat products, as well as refrigerated and shelf-stable foods. The company’s brands include Hormel, SPAM, Jennie-O, Skippy, Applegate and Planters. Its products are sold in the United States and in international markets. Founded in 1891 by George A. Hormel in Austin, Minnesota, the company has grown from a local meatpacking business into a diversified food producer.