Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 164,328 shares of the company’s stock after purchasing an additional 5,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Hormel Foods were worth $7,355,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC increased its stake in Hormel Foods by 1.8% in the first quarter. Advisor Partners LLC now owns 15,072 shares of the company’s stock valued at $675,000 after purchasing an additional 271 shares during the last quarter. Benedict Financial Advisors Inc. raised its position in shares of Hormel Foods by 0.3% during the 4th quarter. Benedict Financial Advisors Inc. now owns 85,017 shares of the company’s stock worth $3,629,000 after purchasing an additional 280 shares during the period. Cox Capital Mgt LLC increased its position in Hormel Foods by 1.0% in the 4th quarter. Cox Capital Mgt LLC now owns 38,082 shares of the company’s stock valued at $1,583,000 after acquiring an additional 380 shares during the period. Daiwa Securities Group Inc. increased its position in Hormel Foods by 4.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,483 shares of the company’s stock valued at $447,000 after acquiring an additional 400 shares during the period. Finally, Legacy Financial Strategies LLC increased its position in Hormel Foods by 2.8% in the 4th quarter. Legacy Financial Strategies LLC now owns 15,059 shares of the company’s stock valued at $643,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 44.30% of the company’s stock.
Several research firms recently commented on HRL. Goldman Sachs Group cut Hormel Foods from a “neutral” rating to a “sell” rating and lowered their target price for the company from $37.00 to $35.00 in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. cut Hormel Foods from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $40.00 to $36.00 in a research report on Tuesday, April 23rd. ValuEngine cut Hormel Foods from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Stephens began coverage on Hormel Foods in a research report on Monday, March 4th. They issued an “equal weight” rating on the stock. Finally, Zacks Investment Research cut Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $40.20.
Shares of NYSE HRL opened at $39.73 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.77. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.62 and a beta of 0.12. Hormel Foods Corp has a 1 year low of $34.12 and a 1 year high of $46.26.
Hormel Foods (NYSE:HRL) last issued 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 firm 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 firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. Equities research analysts forecast that Hormel Foods Corp will post 1.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, April 12th. Hormel Foods’s payout ratio is currently 44.44%.
In other news, Director Elsa A. Murano sold 4,500 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was 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 of the company’s stock, valued at approximately $4,257,952.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Larry L. Vorpahl sold 180,000 shares of the firm’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $44.47, for a total value of $8,004,600.00. Following the sale, the insider now directly owns 280,194 shares of the company’s stock, valued at $12,460,227.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,705 shares of company stock valued at $12,116,336. Corporate insiders own 1.11% of the company’s stock.
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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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