Advisor Group Inc. raised its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 18.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,910 shares of the company’s stock after buying an additional 12,386 shares during the period. Advisor Group Inc.’s holdings in Hormel Foods were worth $3,534,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of Hormel Foods by 6,440.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,355,366 shares of the company’s stock worth $102,000 after acquiring an additional 4,288,779 shares during the last quarter. BlackRock Inc. grew its position in shares of Hormel Foods by 17.5% during the 4th quarter. BlackRock Inc. now owns 23,511,652 shares of the company’s stock worth $1,003,476,000 after buying an additional 3,502,530 shares during the period. Norges Bank acquired a new stake in shares of Hormel Foods during the 4th quarter worth approximately $107,754,000. APG Asset Management N.V. grew its position in shares of Hormel Foods by 91.6% during the 4th quarter. APG Asset Management N.V. now owns 3,595,652 shares of the company’s stock worth $134,245,000 after buying an additional 1,719,400 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Hormel Foods by 75.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,572,743 shares of the company’s stock worth $159,916,000 after buying an additional 1,536,467 shares during the period. Hedge funds and other institutional investors own 43.82% of the company’s stock.
Several equities research analysts have recently commented on HRL shares. Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Thursday, February 28th. Stephens started coverage on shares of Hormel Foods in a research report on Monday, March 4th. They issued an “equal weight” rating on the stock. ValuEngine lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. JPMorgan Chase & Co. lowered shares of Hormel Foods from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $40.00 to $36.00 in a research report on Tuesday, April 23rd. Finally, Goldman Sachs Group lowered shares of Hormel Foods from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $37.00 to $35.00 in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Hormel Foods currently has a consensus rating of “Hold” and an average price target of $39.90.
Shares of Hormel Foods stock traded down $0.37 on Wednesday, hitting $40.13. 4,182,542 shares of the company were exchanged, compared to its average volume of 2,964,345. The stock has a market cap of $22.57 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 3.26 and a beta of 0.14. The stock’s 50-day moving average is $40.47. Hormel Foods Corp has a 1-year low of $35.44 and a 1-year high of $46.26. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.04.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.37 billion. Hormel Foods had a net margin of 10.38% and a return on equity of 17.31%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. As a group, sell-side analysts predict that Hormel Foods Corp will post 1.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, July 12th. Hormel Foods’s payout ratio is 44.44%.
In other Hormel Foods news, insider Larry L. Vorpahl sold 180,000 shares of the stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $44.47, for a total transaction of $8,004,600.00. Following the sale, the insider now owns 280,194 shares of the company’s stock, valued at approximately $12,460,227.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James N. Sheehan sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $41.55, for a total transaction of $2,285,250.00. Following the completion of the transaction, the vice president now directly owns 60,000 shares in the company, valued at approximately $2,493,000. The disclosure for this sale can be found here. In the last three months, insiders sold 306,253 shares of company stock worth $13,259,618. 1.11% of the stock is owned by corporate insiders.
Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
Further Reading: What is a portfolio manager?
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.