Gyroscope Capital Management Group LLC purchased a new position in shares of Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,642 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently added to or reduced their stakes in HRL. Acrospire Investment Management LLC purchased a new position in shares of Hormel Foods Corporation during the 2nd quarter worth about $111,000. SRS Capital Advisors Inc. boosted its stake in shares of Hormel Foods Corporation by 20.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock worth $148,000 after purchasing an additional 718 shares during the period. Van ECK Associates Corp boosted its stake in shares of Hormel Foods Corporation by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock worth $152,000 after purchasing an additional 295 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Hormel Foods Corporation by 0.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of Hormel Foods Corporation during the 2nd quarter worth about $189,000. 38.95% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Corporation (HRL) traded down 0.16% during midday trading on Friday, reaching $31.62. 1,637,954 shares of the company’s stock traded hands. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 19.52 and a beta of 0.58. The firm’s 50-day moving average is $31.72 and its 200-day moving average is $33.57. Hormel Foods Corporation has a 1-year low of $30.50 and a 1-year high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Analysts forecast that Hormel Foods Corporation will post $1.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.68 annualized dividend and a yield of 2.15%. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.98%.

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A number of research firms recently commented on HRL. 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. BidaskClub raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a research note on Friday, June 30th. Zacks Investment Research cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 21st. Finally, Barclays PLC dropped their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, August 25th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Hormel Foods Corporation currently has an average rating of “Hold” and an average target price of $37.56.

In related news, Director Dakota A. Pippins sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total value of $126,400.00. Following the sale, the director now owns 92,377 shares of the company’s stock, valued at $2,919,113.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,704 shares of company stock worth $5,343,032. 3.54% of the stock is owned by corporate insiders.

Hormel Foods Corporation Company Profile

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

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