SEB Asset Management AB Makes New Investment in Hormel Foods Corporation $HRL

SEB Asset Management AB acquired a new position in Hormel Foods Corporation (NYSE:HRL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 93,804 shares of the company’s stock, valued at approximately $2,125,000.

A number of other large investors have also recently made changes to their positions in HRL. MUFG Securities EMEA plc bought a new position in shares of Hormel Foods during the 2nd quarter valued at approximately $26,000. Strive Financial Group LLC bought a new stake in Hormel Foods during the 4th quarter worth approximately $27,000. Motiv8 Investments LLC purchased a new position in Hormel Foods during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its position in shares of Hormel Foods by 354.7% in the fourth 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 during the period. Finally, Root Financial Partners LLC increased its stake in shares of Hormel Foods by 149.2% in the first quarter. Root Financial Partners LLC now owns 1,495 shares of the company’s stock worth $34,000 after purchasing an additional 895 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HRL. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research note on Friday, July 17th. Stephens reiterated an “equal weight” rating and issued a $25.00 price target on shares of Hormel Foods in a research note on Thursday, July 9th. Bank of America raised their price target on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and a consensus target price of $26.14.

Hormel Foods Trading Down 0.8%

Shares of Hormel Foods stock opened at $25.02 on Friday. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $29.63. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $23.90 and a 200-day moving average price of $23.31. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 2.90 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Hormel Foods Corporation will post 1.5 EPS for the current fiscal year.

Hormel Foods Announces Dividend

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

Insider Activity

In other news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the completion of the transaction, the director directly owned 32,002 shares in the company, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

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.