Bbva Compass Bancshares Inc. decreased its position in Hormel Foods Corporation (NYSE:HRL) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,984 shares of the company’s stock after selling 507 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Hormel Foods Corporation were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Hormel Foods Corporation by 1,105.9% in the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock worth $657,673,000 after buying an additional 17,416,591 shares during the period. State Street Corp raised its stake in shares of Hormel Foods Corporation by 93.3% in the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock worth $1,042,171,000 after buying an additional 14,529,149 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Hormel Foods Corporation by 738.9% in the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock worth $87,700,000 after buying an additional 2,230,574 shares during the period. Vanguard Group Inc. raised its stake in shares of Hormel Foods Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after buying an additional 1,608,528 shares during the period. Finally, Champlain Investment Partners LLC purchased a new stake in shares of Hormel Foods Corporation during the first quarter worth about $50,220,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Hormel Foods Corporation (HRL) opened at 33.66 on Friday. Hormel Foods Corporation has a 52 week low of $32.26 and a 52 week high of $40.00. The stock has a market cap of $17.79 billion, a P/E ratio of 20.52 and a beta of 0.56. The stock has a 50 day moving average of $33.66 and a 200-day moving average of $34.68.

Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. Analysts forecast that Hormel Foods Corporation will post $1.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 17th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio is 41.46%.

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A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Credit Suisse Group cut their price target on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 26th. BidaskClub downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Hormel Foods Corporation in a research note on Friday, June 16th. Finally, Mizuho assumed coverage on shares of Hormel Foods Corporation in a research note on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Hormel Foods Corporation has an average rating of “Hold” and an average price target of $40.27.

In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the sale, the insider now directly owns 24,838 shares of the company’s stock, valued at $830,334.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the completion of the sale, the insider now directly owns 22,532 shares of the company’s stock, valued at $784,338.92. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.

About Hormel Foods Corporation

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Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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