ING Groep NV raised its stake in Hormel Foods Corporation (NYSE:HRL) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 13,807 shares of the company’s stock after buying an additional 53 shares during the period. ING Groep NV’s holdings in Hormel Foods Corporation were worth $471,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Cleararc Capital Inc. increased its stake in shares of Hormel Foods Corporation by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,595 shares of the company’s stock valued at $228,000 after buying an additional 19 shares in the last quarter. Harfst & Associates Inc. boosted its position in shares of Hormel Foods Corporation by 0.4% in the first quarter. Harfst & Associates Inc. now owns 10,021 shares of the company’s stock worth $347,000 after buying an additional 40 shares during the last quarter. Dynamic Advisors Solutions LLC boosted its position in shares of Hormel Foods Corporation by 0.6% in the second quarter. Dynamic Advisors Solutions LLC now owns 10,290 shares of the company’s stock worth $351,000 after buying an additional 65 shares during the last quarter. Ffcm LLC boosted its position in shares of Hormel Foods Corporation by 0.7% in the first quarter. Ffcm LLC now owns 8,996 shares of the company’s stock worth $312,000 after buying an additional 66 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its position in shares of Hormel Foods Corporation by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 16,601 shares of the company’s stock worth $575,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 38.34% of the company’s stock.
Shares of Hormel Foods Corporation (NYSE HRL) traded down 0.77% during midday trading on Friday, hitting $33.67. The stock had a trading volume of 1,222,692 shares. The firm’s 50-day moving average price is $33.75 and its 200-day moving average price is $34.76. Hormel Foods Corporation has a 1-year low of $32.26 and a 1-year high of $40.00. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of 20.53 and a beta of 0.56.
Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted $0.40 EPS. The company’s revenue was down 4.9% on a year-over-year basis. Analysts forecast that Hormel Foods Corporation will post $1.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.46%.
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A number of equities analysts have issued reports on HRL shares. Credit Suisse Group lowered their target price on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a report on Friday, May 26th. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. 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. Finally, Mizuho started coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 target price for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Hormel Foods Corporation has an average rating of “Buy” and a consensus target price of $40.27.
In other news, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the sale, the insider now owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the sale, the insider now directly owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.
Hormel Foods Corporation Company Profile
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