Hormel Foods Corporation (HRL) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Hormel Foods Corporation (NYSE:HRL) by 7.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,874,523 shares of the company’s stock after buying an additional 187,886 shares during the period. Geode Capital Management LLC’s holdings in Hormel Foods Corporation were worth $99,413,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its stake 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. Van ECK Associates Corp boosted its stake in shares of Hormel Foods Corporation by 9.4% in the fourth quarter. Van ECK Associates Corp now owns 4,092 shares of the company’s stock worth $142,000 after buying an additional 352 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 in the last quarter. 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 in the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake 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 worth $208,000 after buying an additional 1,300 shares in the last quarter. 38.12% of the stock is owned by institutional investors and hedge funds.

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

Hormel Foods Corporation (NYSE:HRL) traded up 2.3344% during trading on Friday, hitting $35.2235. 774,796 shares of the company’s stock were exchanged. Hormel Foods Corporation has a 12-month low of $32.90 and a 12-month high of $40.00. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 21.4777 and a beta of 0.55. The company’s 50-day moving average price is $34.39 and its 200 day moving average price is $35.04.

Hormel Foods Corporation (NYSE:HRL) last posted its 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 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 analyst estimates of $2.22 billion. During the same period 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. Equities analysts forecast that Hormel Foods Corporation will post $1.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 17th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.98%. Hormel Foods Corporation’s payout ratio is currently 41.46%.

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A number of analysts have commented on the stock. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, April 5th. Mizuho assumed 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 for the company. Barclays PLC assumed coverage on shares of Hormel Foods Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a report on Monday, June 12th. Finally, Stephens reaffirmed an “overweight” rating and set a $50.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 16th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.27.

In other Hormel Foods Corporation news, insider Donald H. Kremin sold 27,852 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $34.66, for a total value of $965,350.32. Following the transaction, the insider now owns 112,746 shares of the company’s stock, valued at $3,907,776.36. The transaction was disclosed in a 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 dated Wednesday, June 14th. The shares were 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 in the company, valued at approximately $784,338.92. The disclosure for this sale can be found here. Insiders sold 87,087 shares of company stock worth $3,000,806 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Hormel Foods Corporation Company Profile

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corporation (NYSE:HRL).

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