Louisiana State Employees Retirement System increased its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,700 shares of the company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Hormel Foods Corporation were worth $570,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HRL. LS Investment Advisors LLC boosted its position in Hormel Foods Corporation by 2.9% in the second quarter. LS Investment Advisors LLC now owns 81,020 shares of the company’s stock valued at $2,764,000 after buying an additional 2,294 shares in the last quarter. Middleton & Co Inc MA boosted its position in Hormel Foods Corporation by 5.1% in the second quarter. Middleton & Co Inc MA now owns 82,815 shares of the company’s stock valued at $2,825,000 after buying an additional 3,990 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Hormel Foods Corporation by 7.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 69,535 shares of the company’s stock valued at $2,372,000 after buying an additional 4,700 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Hormel Foods Corporation by 504.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 46,942 shares of the company’s stock valued at $1,601,000 after buying an additional 39,180 shares in the last quarter. Finally, Gemmer Asset Management LLC boosted its position in Hormel Foods Corporation by 0.5% in the second quarter. Gemmer Asset Management LLC now owns 16,682 shares of the company’s stock valued at $569,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

Shares of Hormel Foods Corporation (NYSE HRL) traded down 0.12% during midday trading on Wednesday, reaching $33.62. 609,915 shares of the company were exchanged. The stock has a 50-day moving average price of $33.69 and a 200 day moving average price of $34.75. Hormel Foods Corporation has a 52-week low of $32.26 and a 52-week high of $40.00. The company has a market capitalization of $17.77 billion, a P/E ratio of 20.50 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 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. 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 paid a $0.17 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.68 annualized dividend and a yield of 2.02%. Hormel Foods Corporation’s payout ratio is currently 41.46%.

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Several research firms have recently commented on HRL. BidaskClub cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC restated a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 30th. Stephens restated an “overweight” rating and set a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 16th. Mizuho began coverage on shares of Hormel Foods Corporation in a 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 report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $40.27.

In other Hormel Foods Corporation news, insider Luis G. Marconi sold 1,300 shares of Hormel Foods Corporation stock in a transaction 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 sale, the insider now directly owns 22,532 shares in the company, valued at approximately $784,338.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas R. Day sold 11,139 shares of Hormel Foods Corporation stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the completion of the sale, the insider now owns 24,838 shares in the company, valued at $830,334.34. The disclosure for this sale can be found here. 3.54% of the stock is currently 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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