Achmea Investment Management B.V. Purchases Shares of 16,115 Hormel Foods Corporation (NYSE:HRL)

Achmea Investment Management B.V. acquired a new stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,115 shares of the company's stock, valued at approximately $499,000.

Several other institutional investors also recently bought and sold shares of the stock. Fairway Wealth LLC bought a new position in Hormel Foods in the 4th quarter worth $44,000. Lindbrook Capital LLC raised its stake in Hormel Foods by 91.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after buying an additional 729 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Hormel Foods in the fourth quarter worth about $48,000. Riverview Trust Co boosted its position in Hormel Foods by 183.8% during the 1st quarter. Riverview Trust Co now owns 1,572 shares of the company's stock valued at $49,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Hormel Foods during the 4th quarter valued at approximately $52,000. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HRL shares. Bank of America upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $29.00 to $35.00 in a research report on Tuesday, April 15th. The Goldman Sachs Group initiated coverage on Hormel Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $35.00 price objective for the company. Stephens reaffirmed an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research note on Thursday, May 22nd. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price target for the company in a research report on Tuesday, May 27th. Finally, BNP Paribas raised shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Hormel Foods currently has an average rating of "Moderate Buy" and a consensus price target of $32.86.

Hormel Foods Stock Performance

Shares of Hormel Foods stock traded down $0.12 during trading on Thursday, hitting $30.69. 2,548,050 shares of the company's stock traded hands, compared to its average volume of 3,079,731. Hormel Foods Corporation has a 1 year low of $27.59 and a 1 year high of $33.80. The business has a 50-day simple moving average of $30.10 and a 200-day simple moving average of $30.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.17. The stock has a market capitalization of $16.88 billion, a P/E ratio of 22.57, a PEG ratio of 3.49 and a beta of 0.33.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.92 billion. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%. The company's revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. As a group, analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, July 14th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, July 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.78%. Hormel Foods's dividend payout ratio is currently 85.29%.

Hormel Foods Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.