6,550 Shares in Hormel Foods Corporation (HRL) Acquired by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC bought a new stake in Hormel Foods Corporation (NYSE:HRL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,550 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds have also added to or reduced their stakes in HRL. BlackRock Inc. grew its holdings in shares of Hormel Foods Corporation by 1,105.9% in the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock valued at $657,673,000 after acquiring an additional 17,416,591 shares in the last quarter. State Street Corp grew its holdings in shares of Hormel Foods Corporation by 93.3% in the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock valued at $1,042,171,000 after acquiring an additional 14,529,149 shares in the last quarter. Fairpointe Capital LLC bought a new position in shares of Hormel Foods Corporation in the second quarter valued at approximately $113,723,000. Westwood Holdings Group Inc. grew its holdings in shares of Hormel Foods Corporation by 738.9% in the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock valued at $87,700,000 after acquiring an additional 2,230,574 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Hormel Foods Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock valued at $1,048,207,000 after acquiring an additional 1,608,528 shares in the last quarter. 38.95% of the stock is owned by institutional investors.

In other Hormel Foods Corporation news, insider Steven G. Binder sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $32.00, for a total value of $480,000.00. Following the transaction, the insider now owns 26,838 shares of the company’s stock, valued at $858,816. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James N. Sheehan sold 35,704 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the transaction, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The disclosure for this sale can be found here. In the last three months, insiders sold 169,704 shares of company stock worth $5,343,032. Insiders own 3.54% of the company’s stock.

Several equities analysts have recently issued reports on HRL shares. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a report on Saturday, August 26th. They issued an “outperform” rating for the company. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 30th. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Mizuho reaffirmed a “hold” rating and issued a $33.00 target price on shares of Hormel Foods Corporation in a report on Wednesday, October 4th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Hormel Foods Corporation presently has a consensus rating of “Hold” and a consensus target price of $37.00.

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Hormel Foods Corporation (NYSE HRL) traded up 0.016% during trading on Wednesday, reaching $31.755. The company had a trading volume of 380,343 shares. The firm’s 50 day moving average price is $31.58 and its 200 day moving average price is $33.51. The firm has a market capitalization of $16.76 billion, a PE ratio of 19.602 and a beta of 0.58. Hormel Foods Corporation has a 12-month low of $30.50 and a 12-month high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company earned $0.36 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. Equities research analysts forecast that Hormel Foods Corporation will post $1.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.98%.

About Hormel Foods Corporation

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Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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