Landscape Capital Management L.L.C. Boosts Stock Position in Hormel Foods Corporation $HRL

Landscape Capital Management L.L.C. lifted its position in Hormel Foods Corporation (NYSE:HRL) by 22.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 326,180 shares of the company’s stock after purchasing an additional 59,989 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Hormel Foods were worth $7,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HRL. GoalVest Advisory LLC purchased a new position in shares of Hormel Foods in the 4th quarter worth about $25,000. MUFG Securities EMEA plc purchased a new position in shares of Hormel Foods in the 2nd quarter worth about $26,000. Parkside Financial Bank & Trust boosted its holdings in shares of Hormel Foods by 354.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after purchasing an additional 1,025 shares in the last quarter. Ankerstar Wealth LLC purchased a new position in shares of Hormel Foods in the 4th quarter worth about $35,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Hormel Foods by 514.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock worth $37,000 after purchasing an additional 1,266 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. Stephens boosted their target price on Hormel Foods from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Finally, Bank of America boosted their target price on Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average target price of $25.67.

Hormel Foods Trading Up 1.4%

NYSE HRL opened at $24.78 on Friday. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $31.86. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $21.65 and a 200-day moving average of $23.07. The firm has a market cap of $13.63 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.85 and a beta of 0.35.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the company posted $0.35 EPS. Hormel Foods’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that Hormel Foods Corporation will post 1.5 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a yield of 4.7%. Hormel Foods’s dividend payout ratio is presently 137.65%.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.