Olstein Capital Management L.P. maintained its position in Hormel Foods Corporation (NYSE:HRL) during the second quarter, Holdings Channel reports. The fund owned 152,000 shares of the company’s stock at the end of the second quarter. Olstein Capital Management L.P.’s holdings in Hormel Foods Corporation were worth $5,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HRL. Teachers Advisors LLC boosted its position in shares of Hormel Foods Corporation by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 379,047 shares of the company’s stock valued at $13,195,000 after buying an additional 18,241 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Hormel Foods Corporation by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 232,488 shares of the company’s stock valued at $8,051,000 after buying an additional 6,845 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Hormel Foods Corporation 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 last quarter. National Pension Service boosted its position in shares of Hormel Foods Corporation by 17.1% in the first quarter. National Pension Service now owns 289,908 shares of the company’s stock valued at $9,918,000 after buying an additional 42,358 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Hormel Foods Corporation by 4.1% in the first quarter. Bank of Montreal Can now owns 429,051 shares of the company’s stock valued at $14,858,000 after buying an additional 17,036 shares during the last quarter. Hedge funds and other institutional investors own 38.40% of the company’s stock.

Hormel Foods Corporation (NYSE:HRL) opened at 34.24 on Wednesday. Hormel Foods Corporation has a 12 month low of $32.26 and a 12 month high of $40.00. The company has a 50 day moving average of $33.62 and a 200 day moving average of $34.61. The stock has a market capitalization of $18.10 billion, a price-to-earnings ratio of 20.88 and a beta of 0.56.

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 analyst estimates of $2.22 billion. Hormel Foods Corporation had a return on equity of 19.57% and a net margin of 9.42%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, equities analysts predict that Hormel Foods Corporation will post $1.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 17th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.46%.

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HRL has been the topic of several recent research reports. Credit Suisse Group dropped their target price on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 26th. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 30th. Finally, Mizuho initiated coverage on shares of Hormel Foods Corporation in a report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price on the stock. One investment 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.27.

In related 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 value of $372,376.77. Following the completion of the transaction, the insider now directly owns 24,838 shares of the company’s stock, valued at $830,334.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, 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. Corporate insiders own 3.54% of the company’s stock.

Hormel Foods Corporation Company Profile

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

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