Profund Advisors LLC raised its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 21.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,601 shares of the company’s stock after acquiring an additional 1,367 shares during the quarter. Profund Advisors LLC’s holdings in Hormel Foods Corporation were worth $259,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in HRL. Pacer Advisors Inc. grew its stake in Hormel Foods Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock valued at $194,000 after acquiring an additional 176 shares in the last quarter. Victory Capital Management Inc. grew its stake in Hormel Foods Corporation by 25.8% during the 1st quarter. Victory Capital Management Inc. now owns 102,885 shares of the company’s stock valued at $3,563,000 after acquiring an additional 21,100 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Hormel Foods Corporation by 9.9% during the 1st quarter. Neuberger Berman Group LLC now owns 49,746 shares of the company’s stock valued at $1,723,000 after acquiring an additional 4,463 shares in the last quarter. AXA grew its stake in Hormel Foods Corporation by 363.0% during the 1st quarter. AXA now owns 55,100 shares of the company’s stock valued at $1,908,000 after acquiring an additional 43,200 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Hormel Foods Corporation by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after acquiring an additional 295 shares in the last quarter. 38.95% of the stock is currently owned by institutional investors.
Shares of Hormel Foods Corporation (NYSE:HRL) opened at 31.72 on Thursday. The firm has a market capitalization of $16.74 billion, a price-to-earnings ratio of 19.58 and a beta of 0.58. The stock’s 50 day moving average price is $31.50 and its 200 day moving average price is $33.49. Hormel Foods Corporation has a one year low of $30.50 and a one year high of $38.84.
Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. Analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a dividend of $0.17 per share. The ex-dividend date is Friday, October 20th. This represents a $0.68 annualized dividend and a yield of 2.14%. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.98%.
Several research firms have weighed in on HRL. Mizuho reaffirmed a “hold” rating and set a $33.00 target price on shares of Hormel Foods Corporation in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a report on Saturday, August 26th. They set an “outperform” rating for the company. Barclays PLC reduced their price target on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $38.00 price target (down from $45.00) on shares of Hormel Foods Corporation in a report on Friday, August 25th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Hormel Foods Corporation has a consensus rating of “Hold” and an average price target of $37.00.
In related news, VP James N. Sheehan sold 35,704 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the completion of the transaction, the vice president now directly owns 60,000 shares of the company’s stock, valued at $1,852,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven G. Binder sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $31.23, for a total value of $468,450.00. Following the transaction, the insider now directly owns 26,838 shares of the company’s stock, valued at $838,150.74. The disclosure for this sale can be found here. Insiders have sold 169,704 shares of company stock valued at $5,343,032 over the last three months. Insiders own 3.54% of the company’s stock.
About Hormel Foods Corporation
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