Public Employees Retirement Association of Colorado reduced its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 54,243 shares of the company’s stock after selling 113 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Hormel Foods Corporation were worth $1,850,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Hormel Foods Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock valued at $1,048,207,000 after buying an additional 1,608,528 shares during the last quarter. State Street Corp boosted its stake in Hormel Foods Corporation by 93.3% in the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock valued at $1,042,171,000 after buying an additional 14,529,149 shares during the last quarter. BlackRock Inc. raised its position in shares of Hormel Foods Corporation by 1,105.9% in the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock valued at $657,673,000 after buying an additional 17,416,591 shares during the period. APG Asset Management N.V. raised its position in shares of Hormel Foods Corporation by 3.3% in the second quarter. APG Asset Management N.V. now owns 5,165,938 shares of the company’s stock valued at $176,210,000 after buying an additional 162,900 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Hormel Foods Corporation by 7.0% in the first quarter. Geode Capital Management LLC now owns 2,874,523 shares of the company’s stock valued at $99,413,000 after buying an additional 187,886 shares during the period. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Hormel Foods Corporation (NYSE:HRL) opened at 33.66 on Friday. Hormel Foods Corporation has a 1-year low of $32.26 and a 1-year high of $40.00. The company’s 50-day moving average is $33.66 and its 200 day moving average is $34.68. The company has a market cap of $17.79 billion, a price-to-earnings ratio of 20.52 and a beta of 0.56.

Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. On average, equities analysts predict that Hormel Foods Corporation will post $1.66 EPS for the current fiscal year.

The company 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 dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio is presently 41.46%.

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Several brokerages have recently issued reports on HRL. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 30th. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 16th. Mizuho began coverage on shares of Hormel Foods Corporation in a research note on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Hormel Foods Corporation presently has an average rating of “Hold” and a consensus price target of $40.27.

In other Hormel Foods Corporation news, insider Luis G. Marconi sold 1,300 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas R. Day sold 11,139 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. 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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