Virginia Retirement Systems ET AL decreased its stake in shares of Hormel Foods Corp (NYSE:HRL) by 18.0% during the first quarter, Holdings Channel reports. The institutional investor owned 477,576 shares of the company’s stock after selling 104,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Hormel Foods Corp were worth $16,538,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in HRL. Flinton Capital Management LLC purchased a new position in Hormel Foods Corp during the fourth quarter valued at $5,163,000. Dimensional Fund Advisors LP increased its position in Hormel Foods Corp by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,550 shares of the company’s stock valued at $39,532,000 after buying an additional 34,431 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in Hormel Foods Corp by 1.3% in the third quarter. Punch & Associates Investment Management Inc. now owns 113,050 shares of the company’s stock valued at $4,288,000 after buying an additional 1,502 shares during the last quarter. Azimuth Capital Management LLC increased its position in Hormel Foods Corp by 1.1% in the fourth quarter. Azimuth Capital Management LLC now owns 86,249 shares of the company’s stock valued at $3,002,000 after buying an additional 933 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Hormel Foods Corp during the fourth quarter valued at $304,000. 33.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Hormel Foods Corp (NYSE:HRL) traded up 1.99% during trading on Friday, hitting $34.83. The company had a trading volume of 2,555,233 shares. The stock has a market capitalization of $18.42 billion, a P/E ratio of 21.11 and a beta of 0.49. The firm’s 50 day moving average is $34.55 and its 200-day moving average is $35.29. Hormel Foods Corp has a 52 week low of $33.18 and a 52 week high of $40.00.
Hormel Foods Corp (NYSE:HRL) last released its earnings results on Thursday, February 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Hormel Foods Corp had a return on equity of 20.56% and a net margin of 9.35%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts anticipate that Hormel Foods Corp will post $1.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Tuesday, April 18th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.99%. Hormel Foods Corp’s payout ratio is currently 41.46%.
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HRL has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating and set a $45.00 price target on shares of Hormel Foods Corp in a research note on Thursday, March 30th. Credit Suisse Group AG set a $41.00 price target on Hormel Foods Corp and gave the stock a “buy” rating in a research note on Saturday, February 25th. Finally, Zacks Investment Research upgraded Hormel Foods Corp from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $40.75.
In related news, Director Dakota A. Pippins sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $34.17, for a total value of $102,510.00. Following the sale, the director now directly owns 96,166 shares in the company, valued at approximately $3,285,992.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas R. Day sold 11,650 shares of the business’s stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $34.25, for a total transaction of $399,012.50. Following the completion of the sale, the insider now owns 4,836 shares in the company, valued at $165,633. The disclosure for this sale can be found here. Insiders sold a total of 85,787 shares of company stock worth $2,955,553 over the last quarter. Insiders own 3.54% of the company’s stock.
Hormel Foods Corp Company Profile
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