Investors Research Corp Purchases New Position in Hormel Foods Corporation $HRL

Investors Research Corp purchased a new stake in Hormel Foods Corporation (NYSE:HRL) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,850 shares of the company’s stock, valued at approximately $815,000.

Several other large investors have also recently added to or reduced their stakes in HRL. MUFG Securities EMEA plc acquired a new stake in shares of Hormel Foods during the second quarter worth approximately $26,000. Strive Financial Group LLC acquired a new position in shares of Hormel Foods in the 4th quarter worth approximately $27,000. Motiv8 Investments LLC acquired a new position in shares of Hormel Foods in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its position in 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 acquiring an additional 1,025 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Hormel Foods by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the company’s stock valued at $33,000 after purchasing an additional 531 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director directly owned 32,002 shares in the company, valued at $784,369.02. This represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

Hormel Foods Trading Down 1.7%

Shares of HRL opened at $24.29 on Wednesday. The stock’s fifty day simple moving average is $24.86 and its 200-day simple moving average is $23.46. The firm has a market capitalization of $13.37 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.84 and a beta of 0.34. Hormel Foods Corporation has a 12-month low of $19.70 and a 12-month high of $29.34. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30.

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

Hormel Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s payout ratio is 137.65%.

Analyst Ratings Changes

HRL has been the subject of several research analyst reports. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research report on Thursday, May 21st. Stephens reiterated an “equal weight” rating and set a $25.00 price target on shares of Hormel Foods in a research report on Thursday, July 9th. BNP Paribas Exane increased their price objective on shares of Hormel Foods from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Bank of America raised their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.14.

Hormel Foods Company 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.