Hormel Foods Co. (NYSE:HRL) Shares Bought by Riverview Trust Co

Riverview Trust Co grew its stake in shares of Hormel Foods Co. (NYSE:HRL) by 183.8% in the first quarter, HoldingsChannel reports. The fund owned 1,572 shares of the company’s stock after buying an additional 1,018 shares during the quarter. Riverview Trust Co’s holdings in Hormel Foods were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. D.A. Davidson & CO. boosted its stake in shares of Hormel Foods by 10.4% during the 4th quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock valued at $311,000 after buying an additional 934 shares during the last quarter. US Bancorp DE lifted its stake in Hormel Foods by 3.4% in the fourth quarter. US Bancorp DE now owns 626,360 shares of the company’s stock valued at $19,649,000 after buying an additional 20,514 shares during the last quarter. Aviva PLC lifted its stake in Hormel Foods by 58.9% in the fourth quarter. Aviva PLC now owns 313,619 shares of the company’s stock valued at $9,838,000 after buying an additional 116,304 shares during the last quarter. Stifel Financial Corp lifted its stake in Hormel Foods by 33.9% in the fourth quarter. Stifel Financial Corp now owns 4,374,456 shares of the company’s stock valued at $137,227,000 after buying an additional 1,107,270 shares during the last quarter. Finally, DnB Asset Management AS lifted its stake in Hormel Foods by 14.7% in the fourth quarter. DnB Asset Management AS now owns 71,010 shares of the company’s stock valued at $2,228,000 after buying an additional 9,120 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BNP Paribas Exane raised Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 price target on the stock in a report on Tuesday, May 27th. BNP Paribas raised Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 27th. Stephens reissued an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Thursday, May 22nd. Finally, Bank of America raised Hormel Foods from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $29.00 to $35.00 in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Hormel Foods Stock Down 0.1%

Shares of Hormel Foods stock opened at $30.68 on Friday. The firm has a market cap of $16.87 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.73 and a beta of 0.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $33.80. The stock has a 50-day simple moving average of $30.01 and a 200-day simple moving average of $30.28.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.92 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. On average, equities research analysts expect that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be issued a $0.29 dividend. The ex-dividend date is Monday, July 14th. This represents a $1.16 annualized dividend and a yield of 3.78%. Hormel Foods’s dividend payout ratio (DPR) is currently 85.29%.

Insider Transactions at Hormel Foods

In other news, Director Elsa A. Murano sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction of $136,800.00. Following the sale, the director now directly owns 95,488 shares in the company, valued at approximately $2,902,835.20. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.