PHH Investments Ltd. cut its position in shares of Hormel Foods Corporation (NYSE:HRL) by 2.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 31,672 shares of the company’s stock after selling 902 shares during the period. PHH Investments Ltd.’s holdings in Hormel Foods Corporation were worth $1,080,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in HRL. Canada Pension Plan Investment Board boosted its position in shares of 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 worth $132,000 after buying an additional 2,664 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock worth $148,000 after buying an additional 718 shares during the period. Van ECK Associates Corp boosted its stake in shares of Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock worth $152,000 after buying an additional 295 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Hormel Foods Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock worth $194,000 after buying an additional 176 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Hormel Foods Corporation during the second quarter worth about $203,000. Institutional investors own 38.40% of the company’s stock.

Shares of 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 firm has a market capitalization of $18.10 billion, a P/E ratio of 20.88 and a beta of 0.56. The company has a 50 day moving average of $33.62 and a 200-day moving average of $34.61.

Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, May 25th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. Analysts predict that Hormel Foods Corporation will post $1.66 EPS for the current year.

The business also recently announced 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 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, July 13th. Hormel Foods Corporation’s payout ratio is presently 41.46%.

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A number of equities research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Hormel Foods Corporation in a research report on Friday, June 16th. Barclays PLC assumed coverage on shares of Hormel Foods Corporation in a research report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price for the company. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research report on Friday, June 30th. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Zacks Investment Research cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Monday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price 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 sale, the insider now directly owns 24,838 shares in the company, valued at $830,334.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider now owns 22,532 shares in the company, 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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