Paragon Wealth Strategies LLC boosted its stake in Hormel Foods Corporation (NYSE:HRL) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,310 shares of the company’s stock after buying an additional 5 shares during the period. Hormel Foods Corporation accounts for approximately 0.3% of Paragon Wealth Strategies LLC’s investment portfolio, making the stock its 23rd largest position. Paragon Wealth Strategies LLC’s holdings in Hormel Foods Corporation were worth $318,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its stake in Hormel Foods Corporation 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 in the last quarter. SRS Capital Advisors Inc. raised its stake in Hormel Foods Corporation 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 in the last quarter. Van ECK Associates Corp raised its stake in Hormel Foods Corporation 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 in the last quarter. Independence Advisors LLC purchased a new stake in Hormel Foods Corporation during the second quarter valued at about $289,000. Finally, Pacer Advisors Inc. raised its stake in Hormel Foods Corporation 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 in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

Shares of Hormel Foods Corporation (HRL) opened at 33.61 on Thursday. The firm has a 50-day moving average of $33.67 and a 200-day moving average of $34.68. Hormel Foods Corporation has a 12 month low of $32.26 and a 12 month high of $40.00. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 20.49 and a beta of 0.56.

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

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

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Several research firms recently issued reports on HRL. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays PLC began coverage on shares of Hormel Foods Corporation in a research report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Mizuho began coverage on shares of Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price 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 transaction, the insider now owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the insider now directly owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The disclosure for this sale can be found here. 3.54% of the stock is owned by insiders.

About Hormel Foods Corporation

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

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