Laurel Wealth Advisors Inc. purchased a new stake in shares of Hormel Foods Corporation (NYSE:HRL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 37,176 shares of the company’s stock, valued at approximately $1,268,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Hormel Foods Corporation by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock valued at $1,059,004,000 after acquiring an additional 777,942 shares in the last quarter. State Street Corp grew its holdings in shares of Hormel Foods Corporation by 0.4% during the 2nd quarter. State Street Corp now owns 30,226,307 shares of the company’s stock valued at $1,031,019,000 after acquiring an additional 132,262 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Hormel Foods Corporation by 2.3% during the 2nd quarter. BlackRock Inc. now owns 19,429,152 shares of the company’s stock valued at $662,728,000 after acquiring an additional 437,716 shares in the last quarter. Capital International Investors grew its holdings in shares of Hormel Foods Corporation by 16.8% during the 2nd quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock valued at $282,600,000 after acquiring an additional 1,191,000 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Hormel Foods Corporation by 3.3% during the 2nd quarter. APG Asset Management N.V. now owns 5,165,938 shares of the company’s stock valued at $176,210,000 after acquiring an additional 162,900 shares in the last quarter. Institutional investors and hedge funds own 38.95% of the company’s stock.

Shares of Hormel Foods Corporation (HRL) traded down 0.19% during midday trading on Monday, reaching $31.56. 948,234 shares of the company were exchanged. The company has a market capitalization of $16.66 billion, a P/E ratio of 19.48 and a beta of 0.58. The stock has a 50-day moving average price of $31.72 and a 200 day moving average price of $33.57. Hormel Foods Corporation has a 52-week low of $30.50 and a 52-week high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Equities research analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is currently 41.98%.

Several equities analysts have recently commented on the stock. Mizuho restated a “hold” rating and set a $33.00 price target on shares of Hormel Foods Corporation in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a report on Saturday, August 26th. They set an “outperform” rating on the stock. Barclays PLC lowered their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, August 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $38.00 price objective (down from $45.00) on shares of Hormel Foods Corporation in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $37.56.

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In other news, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the transaction, the vice president now owns 60,000 shares of the company’s stock, valued at approximately $1,852,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total transaction of $480,000.00. Following the completion of the transaction, the insider now directly owns 26,838 shares of the company’s stock, valued at approximately $858,816. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,704 shares of company stock valued at $5,343,032. 3.54% of the stock is owned by insiders.

Hormel Foods Corporation Profile

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

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