CENTRAL TRUST Co reduced its position in Hormel Foods Corporation (NYSE:HRL) by 82.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,040 shares of the company’s stock after selling 29,035 shares during the period. CENTRAL TRUST Co’s holdings in Hormel Foods Corporation were worth $206,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in HRL. Vanguard Group Inc. boosted its position 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 worth $1,048,207,000 after buying an additional 1,608,528 shares during the last quarter. State Street Corp boosted its position 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 worth $1,042,171,000 after buying an additional 14,529,149 shares during the last quarter. BlackRock Inc. boosted its position 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 worth $657,673,000 after buying an additional 17,416,591 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Hormel Foods Corporation by 7.0% in the first quarter. Geode Capital Management LLC now owns 2,874,523 shares of the company’s stock worth $99,413,000 after buying an additional 187,886 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Hormel Foods Corporation by 8.4% in the first quarter. Morgan Stanley now owns 2,870,580 shares of the company’s stock worth $99,408,000 after buying an additional 222,772 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.
Shares of Hormel Foods Corporation (NYSE HRL) traded up 1.04% during trading on Monday, hitting $34.02. 407,631 shares of the stock traded hands. The stock has a 50 day moving average of $33.75 and a 200 day moving average of $34.76. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 20.74 and a beta of 0.56. Hormel Foods Corporation has a 52-week low of $32.26 and a 52-week high of $40.00.
Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, May 25th. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. Hormel Foods Corporation had a return on equity of 19.57% and a net margin of 9.42%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm earned $0.40 EPS. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts expect that Hormel Foods Corporation will post $1.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.46%.
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A number of equities analysts recently issued reports on HRL shares. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group dropped their price target on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 26th. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Hormel Foods Corporation in a research note on Friday, June 16th. Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Hormel Foods Corporation has an average rating of “Buy” and an average price target of $40.27.
In related news, insider Luis G. Marconi sold 1,300 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the completion of the sale, the insider now owns 22,532 shares of the company’s stock, valued at $784,338.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas R. Day sold 11,139 shares of Hormel Foods Corporation 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 sale, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. 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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