Nisa Investment Advisors LLC cut its stake in Hormel Foods Corporation (NYSE:HRL) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,364 shares of the company’s stock after selling 800 shares during the period. Nisa Investment Advisors LLC’s holdings in Hormel Foods Corporation were worth $1,912,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of HRL. Vicus Capital acquired a new position in Hormel Foods Corporation during the first quarter valued at $641,000. Parametrica Management Ltd acquired a new position in Hormel Foods Corporation during the first quarter valued at $336,000. Bank of Montreal Can increased its position in Hormel Foods Corporation by 4.1% in the first quarter. Bank of Montreal Can now owns 429,051 shares of the company’s stock valued at $14,858,000 after buying an additional 17,036 shares during the last quarter. National Pension Service increased its position in Hormel Foods Corporation by 17.1% in the first quarter. National Pension Service now owns 289,908 shares of the company’s stock valued at $9,918,000 after buying an additional 42,358 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC increased its position in Hormel Foods Corporation by 3.3% in the first quarter. Dynamic Advisors Solutions LLC now owns 10,225 shares of the company’s stock valued at $354,000 after buying an additional 330 shares during the last quarter. Institutional investors and hedge funds own 38.40% of the company’s stock.
Shares of Hormel Foods Corporation (HRL) traded up 0.41% during mid-day trading on Friday, reaching $34.00. The company had a trading volume of 510,155 shares. The stock’s 50-day moving average price is $33.61 and its 200 day moving average price is $34.60. The company has a market capitalization of $17.97 billion, a PE ratio of 20.73 and a beta of 0.56. Hormel Foods Corporation has a 1-year low of $32.26 and a 1-year high of $40.00.
Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the company earned $0.40 EPS. Hormel Foods Corporation’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities analysts expect that Hormel Foods Corporation will post $1.65 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 17th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, July 13th. This represents a $0.68 annualized dividend and a yield of 2.01%. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.46%.
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Several research analysts have weighed in on the company. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Mizuho initiated coverage on Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price for the company. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Hormel Foods Corporation in a research report on Friday, June 16th. Finally, BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Hormel Foods Corporation presently has an average rating of “Buy” and a consensus target price of $40.50.
In other Hormel Foods Corporation news, insider Luis G. Marconi sold 1,300 shares of the company’s 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 sale, the insider now owns 22,532 shares in the company, valued at approximately $784,338.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas R. Day sold 11,139 shares of the company’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 sale, the insider now owns 24,838 shares in the company, valued at approximately $830,334.34. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.
About Hormel Foods Corporation
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