Utah Retirement Systems increased its position in Hormel Foods Corporation (NYSE:HRL) by 0.2% during the first quarter, Holdings Channel reports. The firm owned 49,394 shares of the company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in Hormel Foods Corporation were worth $1,711,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Hormel Foods Corporation by 1.9% in the first quarter. Legal & General Group Plc now owns 1,236,275 shares of the company’s stock worth $42,805,000 after buying an additional 23,633 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock worth $148,000 after buying an additional 718 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Hormel Foods Corporation by 23.6% in the first quarter. PNC Financial Services Group Inc. now owns 413,144 shares of the company’s stock worth $14,306,000 after buying an additional 78,937 shares during the period. SNS Financial Group LLC bought a new stake in shares of Hormel Foods Corporation during the first quarter worth about $344,000. Finally, WINTON GROUP Ltd raised its stake in shares of Hormel Foods Corporation by 540.9% in the first quarter. WINTON GROUP Ltd now owns 714,435 shares of the company’s stock worth $27,099,000 after buying an additional 602,958 shares during the period. 38.09% of the stock is currently owned by institutional investors.
Shares of Hormel Foods Corporation (HRL) traded down 1.88% on Friday, reaching $33.95. The company’s stock had a trading volume of 4,102,211 shares. The company has a market cap of $17.94 billion, a P/E ratio of 20.70 and a beta of 0.55. The company has a 50 day moving average price of $34.44 and a 200 day moving average price of $35.03. Hormel Foods Corporation has a 52-week low of $32.90 and a 52-week high of $40.00.
Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.22 billion. Hormel Foods Corporation had a return on equity of 19.57% and a net margin of 9.42%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. On average, analysts anticipate that Hormel Foods Corporation will post $1.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s payout ratio is presently 41.46%.
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A number of research analysts have recently weighed in on the company. Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a report on Monday, June 12th. Mizuho assumed coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price target on the stock. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Finally, Barclays PLC assumed coverage on Hormel Foods Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $40.27.
In other Hormel Foods Corporation 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 value of $45,253.00. Following the sale, the insider now owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dakota A. Pippins sold 3,000 shares of Hormel Foods Corporation stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $34.17, for a total value of $102,510.00. Following the completion of the sale, the director now directly owns 96,166 shares in the company, valued at approximately $3,285,992.22. The disclosure for this sale can be found here. Insiders have sold a total of 87,087 shares of company stock worth $3,000,806 in the last ninety days. 3.54% of the stock is currently owned by company insiders.
About Hormel Foods Corporation
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