Hormel Foods Co. (NYSE:HRL) Shares Acquired by Insight Folios Inc

Insight Folios Inc increased its position in Hormel Foods Co. (NYSE:HRL) by 13.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,944 shares of the company’s stock after acquiring an additional 931 shares during the period. Insight Folios Inc’s holdings in Hormel Foods were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mairs & Power Inc. lifted its stake in Hormel Foods by 2.0% in the 4th quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after buying an additional 108,944 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Hormel Foods by 97.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after purchasing an additional 1,434,437 shares in the last quarter. Stifel Financial Corp increased its holdings in Hormel Foods by 5.8% in the 4th quarter. Stifel Financial Corp now owns 2,654,609 shares of the company’s stock valued at $85,239,000 after purchasing an additional 144,605 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Hormel Foods by 8.2% during the fourth quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock valued at $82,963,000 after acquiring an additional 196,460 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Hormel Foods by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,450,447 shares of the company’s stock valued at $78,679,000 after acquiring an additional 56,189 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

HRL has been the subject of several recent analyst reports. Citigroup lowered their target price on Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Stephens reaffirmed an “equal weight” rating and set a $32.00 price target on shares of Hormel Foods in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.67.

Hormel Foods Stock Performance

Shares of HRL stock opened at $30.24 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.73. The company’s 50-day simple moving average is $32.90 and its 200-day simple moving average is $32.61. Hormel Foods Co. has a one year low of $28.51 and a one year high of $41.73. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.90 and a beta of 0.24.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, May 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the company posted $0.40 earnings per share. Hormel Foods’s revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that Hormel Foods Co. will post 1.6 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.2825 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.74%. Hormel Foods’s dividend payout ratio (DPR) is presently 80.71%.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.