171,063 Shares in Hormel Foods Corporation $HRL Acquired by Maverick Capital Ltd.

Maverick Capital Ltd. bought a new stake in Hormel Foods Corporation (NYSE:HRL) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 171,063 shares of the company’s stock, valued at approximately $3,875,000.

A number of other large investors have also recently bought and sold shares of the stock. MUFG Securities EMEA plc purchased a new stake in Hormel Foods during the 2nd quarter worth about $26,000. Strive Financial Group LLC purchased a new position in Hormel Foods in the 4th quarter valued at about $27,000. Motiv8 Investments LLC purchased a new position in Hormel Foods in the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust boosted its stake in shares of Hormel Foods by 354.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Root Financial Partners LLC grew its holdings in shares of Hormel Foods by 149.2% during the first quarter. Root Financial Partners LLC now owns 1,495 shares of the company’s stock worth $34,000 after buying an additional 895 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $26.06 on Tuesday. The firm has a market cap of $14.34 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.91 and a beta of 0.34. The firm’s 50-day simple moving average is $24.13 and its 200-day simple moving average is $23.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $29.34.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Equities analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, July 13th. Hormel Foods’s payout ratio is 137.65%.

Insider Buying and Selling at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the sale, the director directly owned 32,002 shares of the company’s stock, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. BNP Paribas Exane boosted their price objective on shares of Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Stephens reiterated an “equal weight” rating and set a $25.00 target price on shares of Hormel Foods in a report on Thursday, July 9th. Bank of America upped their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hormel Foods currently has a consensus rating of “Hold” and a consensus target price of $26.14.

Hormel Foods Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.