Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Position in Hormel Foods Corporation $HRL

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 45.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 196,752 shares of the company’s stock after acquiring an additional 61,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Hormel Foods were worth $4,456,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HRL. GoalVest Advisory LLC purchased a new position in shares of Hormel Foods during the fourth quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new position in shares of Hormel Foods during the second quarter valued at approximately $26,000. Strive Financial Group LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth approximately $27,000. Motiv8 Investments LLC bought a new stake in shares of Hormel Foods during the 4th quarter worth approximately $28,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Hormel Foods by 354.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after acquiring an additional 1,025 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $24.24 on Tuesday. 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’s fifty day moving average price is $22.76 and its 200-day moving average price is $23.22. The firm has a market cap of $13.34 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.87 and a beta of 0.34. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $31.86.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, equities research analysts expect that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be paid a dividend of $0.2925 per share. The ex-dividend date is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.8%. Hormel Foods’s dividend payout ratio (DPR) is currently 137.65%.

Wall Street Analyst Weigh In

HRL has been the topic of several research analyst reports. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research 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 upped their price target on shares of Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Finally, Bank of America upped their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.

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.