Dimensional Fund Advisors LP Acquires 134,983 Shares of Hormel Foods Corporation $HRL

Dimensional Fund Advisors LP raised its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,849,174 shares of the company’s stock after acquiring an additional 134,983 shares during the period. Dimensional Fund Advisors LP’s holdings in Hormel Foods were worth $155,152,000 at the end of the most recent quarter.

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

Hormel Foods Price Performance

NYSE HRL opened at $25.30 on Monday. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.91 and a beta of 0.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The business’s fifty day moving average price is $24.01 and its 200-day moving average price is $23.33. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $29.34.

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

Hormel Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders 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 yield of 4.6%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s payout ratio is currently 137.65%.

Insider Activity

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the sale, the director directly owned 32,002 shares of the company’s stock, 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 SEC, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

HRL has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Friday, July 17th. Bank of America lifted their price target on shares of 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 target price on Hormel Foods in a report on Thursday, May 21st. 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research note 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 stock. Based on data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and a consensus price target of $26.14.

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.