Williams Jones & Associates LLC grew its position in Hormel Foods Corp (NYSE:HRL) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,601 shares of the company’s stock after acquiring an additional 1,725 shares during the quarter. Williams Jones & Associates LLC’s holdings in Hormel Foods were worth $4,011,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in HRL. Oregon Public Employees Retirement Fund lifted its position in shares of Hormel Foods by 6,440.9% in the 4th 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 period. BlackRock Inc. lifted its position in shares of Hormel Foods by 17.5% in the 4th quarter. BlackRock Inc. now owns 23,511,652 shares of the company’s stock worth $1,003,476,000 after acquiring an additional 3,502,530 shares during the period. Norges Bank bought a new stake in shares of Hormel Foods in the 4th quarter worth approximately $107,754,000. APG Asset Management N.V. lifted its position in shares of Hormel Foods by 91.6% in the 4th quarter. APG Asset Management N.V. now owns 3,595,652 shares of the company’s stock worth $134,245,000 after acquiring an additional 1,719,400 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Hormel Foods by 75.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,572,743 shares of the company’s stock worth $159,916,000 after acquiring an additional 1,536,467 shares during the period. Institutional investors own 43.84% of the company’s stock.
Shares of Hormel Foods stock traded down $0.29 during midday trading on Wednesday, hitting $41.55. 1,547,550 shares of the company were exchanged, compared to its average volume of 2,972,186. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 1.16. The company has a market capitalization of $22.53 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 3.25 and a beta of 0.14. Hormel Foods Corp has a 52 week low of $35.35 and a 52 week high of $46.26.
Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, May 23rd. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.37 billion. Hormel Foods had a return on equity of 17.31% and a net margin of 10.38%. Hormel Foods’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. Equities analysts anticipate that Hormel Foods Corp will post 1.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.02%. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.
A number of analysts have commented on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $44.00 price objective on shares of Hormel Foods in a research report on Thursday, February 21st. Zacks Investment Research downgraded Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Stephens assumed coverage on Hormel Foods in a research report on Monday, March 4th. They issued an “equal weight” rating for the company. Credit Suisse Group reiterated a “hold” rating and issued a $39.00 price objective on shares of Hormel Foods in a research report on Thursday, February 21st. Finally, Edward Jones downgraded Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus target price of $39.90.
In related news, Chairman James P. Snee sold 27,752 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $43.49, for a total transaction of $1,206,934.48. Following the completion of the transaction, the chairman now owns 75,464 shares in the company, valued at approximately $3,281,929.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark A. Coffey sold 15,058 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $44.64, for a total value of $672,189.12. Following the transaction, the senior vice president now owns 37,135 shares of the company’s stock, valued at approximately $1,657,706.40. The disclosure for this sale can be found here. Insiders have sold a total of 302,705 shares of company stock valued at $13,230,704 in the last 90 days. 1.11% of the stock is owned by corporate insiders.
About Hormel Foods
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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