First Nebraska Trust Co Acquires Shares of 552,583 Hormel Foods Corporation $HRL

First Nebraska Trust Co acquired a new stake in Hormel Foods Corporation (NYSE:HRL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 552,583 shares of the company’s stock, valued at approximately $12,516,000. Hormel Foods comprises approximately 1.2% of First Nebraska Trust Co’s investment portfolio, making the stock its 21st largest position. First Nebraska Trust Co owned approximately 0.10% of Hormel Foods at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vest Financial LLC boosted its stake in Hormel Foods by 9.1% during the fourth quarter. Vest Financial LLC now owns 2,042,541 shares of the company’s stock worth $48,408,000 after buying an additional 171,137 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Hormel Foods by 38,341.8% in the 4th quarter. Sound Income Strategies LLC now owns 124,167 shares of the company’s stock worth $3,007,000 after acquiring an additional 123,844 shares during the last quarter. Fidelity National Financial Inc. bought a new stake in shares of Hormel Foods in the 4th quarter worth about $15,642,000. Masters Capital Management LLC purchased a new position in shares of Hormel Foods during the 1st quarter worth about $19,252,000. Finally, BNP Paribas Financial Markets grew its holdings in Hormel Foods by 21.2% during the 4th quarter. BNP Paribas Financial Markets now owns 465,204 shares of the company’s stock valued at $11,025,000 after purchasing an additional 81,420 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Down 1.4%

HRL opened at $25.03 on Friday. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 2.88 and a beta of 0.34. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $29.34. The stock has a fifty day moving average price of $24.49 and a 200-day moving average price of $23.42.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.7%. Hormel Foods’s dividend payout ratio is presently 137.65%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HRL shares. The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a research note on Thursday, May 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $23.00 price target (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research note on Friday, July 17th. BNP Paribas Exane upped their price objective on Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Bank of America increased their target price on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average target price of $26.14.

Insider Activity at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the transaction, the director directly owned 32,002 shares in the company, valued at $784,369.02. The trade was a 38.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

About Hormel Foods

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.