Barings LLC Has $970,000 Position in Hormel Foods Corporation (HRL)

Barings LLC held its position in Hormel Foods Corporation (NYSE:HRL) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,020 shares of the company’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Hormel Foods Corporation were worth $970,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HRL. Pacer Advisors Inc. grew its holdings in Hormel Foods Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock worth $194,000 after acquiring an additional 176 shares during the period. Neuberger Berman Group LLC grew its holdings 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 worth $1,723,000 after acquiring an additional 4,463 shares during the period. Van ECK Associates Corp grew its holdings 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 worth $152,000 after acquiring an additional 295 shares during the period. OppenheimerFunds Inc. grew its holdings in Hormel Foods Corporation by 8.2% during the 1st quarter. OppenheimerFunds Inc. now owns 34,692 shares of the company’s stock worth $1,201,000 after acquiring an additional 2,621 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Hormel Foods Corporation by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 427,838 shares of the company’s stock worth $14,817,000 after acquiring an additional 2,993 shares during the period. 38.95% of the stock is owned by hedge funds and other institutional investors.

In other Hormel Foods Corporation news, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares in the company, valued at $1,852,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald H. Kremin sold 100,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the completion of the sale, the insider now owns 887 shares of the company’s stock, valued at $28,082.42. The disclosure for this sale can be found here. Insiders have sold 169,704 shares of company stock valued at $5,343,032 in the last three months. 3.54% of the stock is owned by insiders.

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Hormel Foods Corporation (NYSE:HRL) last announced its 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 return on equity of 18.90% and a net margin of 9.38%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $0.36 EPS. Hormel Foods Corporation’s quarterly revenue was down 4.1% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.

HRL has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a report on Saturday, August 26th. They issued an “outperform” rating for the company. Barclays PLC decreased their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 16th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.00.

Hormel Foods Corporation Profile

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

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