Retirement Systems of Alabama boosted its stake in Hormel Foods Corporation (NYSE:HRL) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 648,589 shares of the company’s stock after buying an additional 426 shares during the period. Retirement Systems of Alabama’s holdings in Hormel Foods Corporation were worth $22,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HRL. Canada Pension Plan Investment Board raised 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 valued at $132,000 after buying an additional 2,664 shares in the last quarter. SRS Capital Advisors Inc. raised 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 valued at $148,000 after buying an additional 718 shares in the last quarter. Van ECK Associates Corp raised 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 valued at $152,000 after buying an additional 295 shares in the last quarter. Independence Advisors LLC purchased a new stake in shares of Hormel Foods Corporation during the second quarter valued at about $289,000. Finally, Pacer Advisors Inc. raised 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 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.

Hormel Foods Corporation (NYSE:HRL) opened at 33.67 on Monday. Hormel Foods Corporation has a 12-month low of $32.26 and a 12-month high of $40.00. The firm’s 50-day moving average price is $33.75 and its 200 day moving average price is $34.76. The company has a market capitalization of $17.80 billion, a price-to-earnings ratio of 20.53 and a beta of 0.56.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, May 25th. The company reported $0.39 EPS for the quarter, missing the 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 business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts expect that Hormel Foods Corporation will post $1.66 EPS for the current fiscal year.

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

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Several analysts recently issued reports on the company. BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Barclays PLC assumed coverage on Hormel Foods Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 price objective for the company. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 price objective on shares of Hormel Foods Corporation in a report on Monday, June 12th. Mizuho assumed coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price objective for the company. Finally, Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” 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 dated Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the sale, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the sale, the insider now directly owns 22,532 shares in the company, valued at $784,338.92. The disclosure for this sale can be found here. 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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