California State Teachers Retirement System lowered its position in shares of Hormel Foods Corporation (NYSE:HRL) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,300 shares of the company’s stock after selling 21,353 shares during the period. California State Teachers Retirement System owned 0.10% of Hormel Foods Corporation worth $17,713,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Stonebridge Capital Advisors LLC purchased a new position in Hormel Foods Corporation during the second quarter valued at approximately $223,000. Rowland & Co. Investment Counsel ADV grew its stake in Hormel Foods Corporation by 0.6% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 17,720 shares of the company’s stock valued at $605,000 after acquiring an additional 100 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Hormel Foods Corporation by 85.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 259,233 shares of the company’s stock valued at $8,842,000 after acquiring an additional 119,490 shares in the last quarter. Fairpointe Capital LLC purchased a new position in Hormel Foods Corporation during the second quarter valued at approximately $113,723,000. Finally, Laurel Wealth Advisors Inc. purchased a new position in Hormel Foods Corporation during the second quarter valued at approximately $1,268,000. 38.92% of the stock is owned by institutional investors.

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Hormel Foods Corporation (NYSE:HRL) last posted its earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $2.21 billion for 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 was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.16%. Hormel Foods Corporation’s dividend payout ratio is currently 41.98%.

Several equities research analysts have issued reports on HRL shares. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. BMO Capital Markets reiterated an “outperform” rating and set a $38.00 target price (down from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. Mizuho reiterated a “hold” rating and set a $33.00 target price on shares of Hormel Foods Corporation in a research report on Wednesday, October 4th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating for the company. Finally, BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.00.

In other news, Director John L. Morrison sold 24,814 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $31.81, for a total transaction of $789,333.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven G. Binder sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the transaction, the insider now owns 26,838 shares of the company’s stock, valued at $858,816. The disclosure for this sale can be found here. Insiders have sold a total of 194,518 shares of company stock valued at $6,132,366 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Hormel Foods Corporation Profile

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

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