850,000 Shares in Hormel Foods Corporation $HRL Acquired by Masters Capital Management LLC

Masters Capital Management LLC acquired a new stake in Hormel Foods Corporation (NYSE:HRL) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 850,000 shares of the company’s stock, valued at approximately $19,252,000. Masters Capital Management LLC owned about 0.15% of Hormel Foods at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HRL. MUFG Securities EMEA plc purchased a new position in shares of Hormel Foods in the second quarter worth about $26,000. Strive Financial Group LLC bought a new position in Hormel Foods in the 4th quarter worth approximately $27,000. Motiv8 Investments LLC bought a new position in Hormel Foods in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in Hormel Foods by 354.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock valued at $31,000 after buying an additional 1,025 shares in the last quarter. Finally, Root Financial Partners LLC raised its holdings in Hormel Foods by 149.2% during the 1st quarter. Root Financial Partners LLC now owns 1,495 shares of the company’s stock valued at $34,000 after acquiring an additional 895 shares during the period. 40.99% of the stock is owned by institutional investors.

Hormel Foods Trading Down 0.0%

Shares of HRL opened at $25.30 on Monday. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $29.34. The company has a market capitalization of $13.93 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.91 and a beta of 0.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $24.01 and its 200 day simple moving average is $23.33.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. Sell-side analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be given a $0.2925 dividend. The ex-dividend date is Monday, July 13th. This represents a $1.17 annualized dividend and a yield of 4.6%. Hormel Foods’s payout ratio is 137.65%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HRL. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a research report on Thursday, May 21st. Stephens reiterated an “equal weight” rating and set a $25.00 price target on shares of Hormel Foods in a research report on Thursday, July 9th. Bank of America raised their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Finally, BNP Paribas Exane boosted their price target on shares of Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.14.

Insider Buying and Selling

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director owned 32,002 shares of the company’s stock, valued at $784,369.02. This represents a 38.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Hormel Foods Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.