Guggenheim Capital LLC decreased its stake in shares of Hormel Foods Corp (NYSE:HRL) by 55.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,908 shares of the company’s stock after selling 108,822 shares during the period. Guggenheim Capital LLC’s holdings in Hormel Foods were worth $4,100,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of HRL. Bessemer Group Inc. boosted its holdings in shares of Hormel Foods by 73.2% in the 1st quarter. Bessemer Group Inc. now owns 634 shares of the company’s stock valued at $30,000 after purchasing an additional 268 shares during the last quarter. Royal Fund Management LLC purchased a new position in shares of Hormel Foods in the 1st quarter worth $31,000. Parkside Financial Bank & Trust boosted its holdings in Hormel Foods by 248.8% in the first quarter. Parkside Financial Bank & Trust now owns 701 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Hormel Foods during the first quarter valued at about $38,000. Finally, Prestige Wealth Management Group LLC grew its position in Hormel Foods by 916.5% during the first quarter. Prestige Wealth Management Group LLC now owns 864 shares of the company’s stock valued at $40,000 after acquiring an additional 779 shares during the period. 43.03% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. Goldman Sachs Group upgraded Hormel Foods from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $35.00 to $45.00 in a report on Thursday, March 26th. Piper Sandler cut shares of Hormel Foods from an “overweight” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Tuesday, April 28th. Barclays increased their price objective on shares of Hormel Foods from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. Finally, Cfra raised their target price on shares of Hormel Foods from $38.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $44.38.
NYSE HRL opened at $48.34 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.70 and a debt-to-equity ratio of 0.01. Hormel Foods Corp has a fifty-two week low of $39.01 and a fifty-two week high of $51.53. The business has a 50 day moving average price of $47.81 and a two-hundred day moving average price of $46.45. The stock has a market cap of $25.98 billion, a PE ratio of 28.27, a P/E/G ratio of 3.88 and a beta of -0.05.
Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, May 21st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. Hormel Foods had a return on equity of 15.38% and a net margin of 9.64%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. Sell-side analysts anticipate that Hormel Foods Corp will post 1.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be given a $0.2325 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.93 dividend on an annualized basis and a yield of 1.92%. Hormel Foods’s payout ratio is currently 53.45%.
In other news, VP Jana L. Haynes sold 18,550 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $48.29, for a total transaction of $895,779.50. Following the completion of the transaction, the vice president now directly owns 18,259 shares in the company, valued at approximately $881,727.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Luis G. Marconi sold 11,900 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $47.58, for a total transaction of $566,202.00. Following the sale, the vice president now directly owns 36,675 shares of the company’s stock, valued at approximately $1,744,996.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,708 shares of company stock valued at $7,962,315. 1.15% of the stock is currently owned by corporate insiders.
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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