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

Key Points

• Masters Capital Management acquired 850,000 Hormel Foods shares worth approximately $19.25 million, representing about 0.15% of the company. Institutional investors collectively own 40.99% of HRL.
• Hormel reported quarterly EPS of $0.40, beating estimates by $0.05, while revenue rose 2.6% year over year to $2.97 billion. The company declared a $0.2925 quarterly dividend, equating to a 4.6% annualized yield.
• Analysts maintain a consensus “Hold” rating, with an average price target of $26.14 versus the stock’s reported $25.30 price. Recent targets range from $23 to $27.

Masters Capital Management LLC acquired a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) 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 - Get Free Report) 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.

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corporation (NYSE:HRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.