Gyroscope Capital Management Group LLC raised its stake in shares of Hormel Foods Corp (NYSE:HRL) by 49.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,702 shares of the company’s stock after purchasing an additional 3,203 shares during the period. Gyroscope Capital Management Group LLC’s holdings in Hormel Foods were worth $333,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in HRL. Teacher Retirement System of Texas acquired a new position in Hormel Foods during the fourth quarter valued at approximately $2,882,000. M&T Bank Corp grew its holdings in Hormel Foods by 16.2% during the fourth quarter. M&T Bank Corp now owns 31,445 shares of the company’s stock valued at $1,144,000 after purchasing an additional 4,391 shares during the last quarter. California Public Employees Retirement System grew its holdings in Hormel Foods by 4.1% during the fourth quarter. California Public Employees Retirement System now owns 642,477 shares of the company’s stock valued at $23,380,000 after purchasing an additional 25,220 shares during the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Hormel Foods by 17.1% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 22,289 shares of the company’s stock valued at $811,000 after purchasing an additional 3,255 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Hormel Foods by 76.8% during the fourth quarter. Wells Fargo & Company MN now owns 896,231 shares of the company’s stock valued at $32,615,000 after purchasing an additional 389,176 shares during the last quarter. Institutional investors own 40.57% of the company’s stock.
In other Hormel Foods news, insider Thomas R. Day sold 43,023 shares of Hormel Foods stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $37.02, for a total transaction of $1,592,711.46. Following the sale, the insider now owns 59,453 shares in the company, valued at $2,200,950.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James M. Splinter sold 48,000 shares of Hormel Foods stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $35.39, for a total transaction of $1,698,720.00. Following the sale, the vice president now owns 159,433 shares in the company, valued at approximately $5,642,333.87. The disclosure for this sale can be found here. Insiders have sold 325,507 shares of company stock worth $11,419,498 in the last quarter. Corporate insiders own 1.48% of the company’s stock.
Shares of Hormel Foods opened at $35.71 on Wednesday, Marketbeat Ratings reports. The firm has a market capitalization of $18.92 billion, a PE ratio of 22.75, a P/E/G ratio of 2.16 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 1.61. Hormel Foods Corp has a 1 year low of $29.75 and a 1 year high of $38.00.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 24th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.37 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 10.05%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. sell-side analysts anticipate that Hormel Foods Corp will post 1.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Monday, July 16th will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, July 13th. This represents a $0.75 dividend on an annualized basis and a yield of 2.10%. Hormel Foods’s dividend payout ratio is currently 47.77%.
Several equities analysts have commented on HRL shares. Jefferies Financial Group reiterated a “buy” rating on shares of Hormel Foods in a report on Thursday, February 22nd. Barclays restated a “buy” rating and issued a $38.00 price objective (down previously from $40.00) on shares of Hormel Foods in a research note on Friday, February 23rd. Credit Suisse Group restated a “neutral” rating on shares of Hormel Foods in a research note on Sunday, February 25th. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 27th. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and a consensus price target of $36.00.
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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