Northwestern Mutual Investment Management Company LLC increased its stake in Hormel Foods Corp (NYSE:HRL) by 0.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 41,430 shares of the company’s stock after buying an additional 371 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Hormel Foods were worth $1,854,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Enlightenment Research LLC purchased a new stake in Hormel Foods in the fourth quarter worth approximately $30,000. Acima Private Wealth LLC purchased a new stake in shares of Hormel Foods during the fourth quarter valued at approximately $34,000. Bremer Trust National Association purchased a new stake in shares of Hormel Foods during the fourth quarter valued at approximately $43,000. FTB Advisors Inc. boosted its stake in shares of Hormel Foods by 62.7% during the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock valued at $48,000 after purchasing an additional 433 shares during the period. Finally, Liberty Wealth Management LLC purchased a new stake in shares of Hormel Foods during the fourth quarter valued at approximately $76,000. 43.82% of the stock is currently owned by institutional investors.
HRL has been the subject of a number of analyst reports. Goldman Sachs Group lowered Hormel Foods from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $37.00 to $35.00 in a research note on Tuesday, April 23rd. Zacks Investment Research raised Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, February 28th. Stephens began coverage on Hormel Foods in a research note on Monday, March 4th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. lowered Hormel Foods from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $40.00 to $36.00 in a research note on Tuesday, April 23rd. Finally, ValuEngine lowered Hormel Foods from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Hormel Foods has an average rating of “Hold” and an average target price of $39.90.
In other Hormel Foods news, VP James N. Sheehan sold 55,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $41.55, for a total transaction of $2,285,250.00. Following the transaction, the vice president now owns 60,000 shares in the company, valued at $2,493,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larry L. Vorpahl sold 180,000 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $44.47, for a total value of $8,004,600.00. Following the transaction, the insider now owns 280,194 shares in the company, valued at approximately $12,460,227.18. The disclosure for this sale can be found here. Insiders sold 306,253 shares of company stock worth $13,259,618 in the last 90 days. Company insiders own 1.11% of the company’s stock.
Shares of NYSE:HRL traded down $0.37 on Wednesday, hitting $40.13. 4,182,542 shares of the company traded hands, compared to its average volume of 2,964,345. Hormel Foods Corp has a 52 week low of $35.44 and a 52 week high of $46.26. The company has a current ratio of 2.14, a quick ratio of 1.16 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $40.49. The company has a market capitalization of $22.57 billion, a P/E ratio of 21.23, a PEG ratio of 3.26 and a beta of 0.14.
Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, May 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Hormel Foods had a return on equity of 17.31% and a net margin of 10.38%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. On average, equities analysts anticipate that Hormel Foods Corp will post 1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.09%. Hormel Foods’s payout ratio is 44.44%.
Hormel Foods 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.
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