HL Financial Services LLC bought a new stake in Hormel Foods Corp (NYSE:HRL) during the second quarter, Holdings Channel reports. The firm bought 16,353 shares of the company’s stock, valued at approximately $558,000.

Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board raised its stake in shares of Hormel Foods Corp by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after buying an additional 2,664 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Hormel Foods Corp by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock valued at $148,000 after buying an additional 718 shares during the period. Van ECK Associates Corp raised its stake in shares of Hormel Foods Corp by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after buying an additional 295 shares during the period. Pacer Advisors Inc. raised its stake in shares of Hormel Foods Corp by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock valued at $194,000 after buying an additional 176 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in shares of Hormel Foods Corp by 27.5% in the first quarter. Gulf International Bank UK Ltd now owns 6,026 shares of the company’s stock valued at $208,000 after buying an additional 1,300 shares during the period. 38.35% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Corp (HRL) opened at 34.01 on Friday. Hormel Foods Corp has a 52-week low of $32.26 and a 52-week high of $40.00. The firm’s 50-day moving average price is $33.65 and its 200 day moving average price is $34.66. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 20.74 and a beta of 0.56.

Hormel Foods Corp (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Hormel Foods Corp had a net margin of 9.64% and a return on equity of 18.28%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Hormel Foods Corp will post $1.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corp’s payout ratio is currently 41.46%.

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Several equities research analysts have recently weighed in on the company. Jefferies Group LLC reissued a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corp in a research report on Friday, June 30th. Zacks Investment Research raised Hormel Foods Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. BidaskClub lowered Hormel Foods Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Mizuho assumed coverage on Hormel Foods Corp in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Barclays PLC assumed coverage on Hormel Foods Corp in a research report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price 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 stock. Hormel Foods Corp presently has a consensus rating of “Hold” and an average target price of $40.27.

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

Hormel Foods Corp Company Profile

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

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