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ASR Vermogensbeheer N.V. Makes New Investment in Hormel Foods Corporation (NYSE:HRL)

Hormel Foods logo with Consumer Staples background

Key Points

  • ASR Vermogensbeheer N.V. has acquired 50,477 shares of Hormel Foods Corporation, valued at approximately $1.56 million, marking the company's new investment position in the 1st quarter.
  • Multiple institutional investors have also adjusted their positions in Hormel Foods, leading to a total of 40.99% of the stock being owned by these entities.
  • The latest analyst ratings for Hormel Foods show a consensus rating of "Moderate Buy" with a target price of $32.86, reflecting overall positive sentiment among market analysts.
  • Looking to export and analyze Hormel Foods data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

ASR Vermogensbeheer N.V. purchased a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 50,477 shares of the company's stock, valued at approximately $1,562,000.

Several other large investors have also made changes to their positions in the business. J.W. Cole Advisors Inc. bought a new stake in Hormel Foods in the first quarter valued at about $1,283,000. Principal Financial Group Inc. raised its holdings in Hormel Foods by 12.0% during the 1st quarter. Principal Financial Group Inc. now owns 452,925 shares of the company's stock worth $14,014,000 after purchasing an additional 48,657 shares during the last quarter. Stifel Financial Corp lifted its holdings in Hormel Foods by 33.9% in the fourth quarter. Stifel Financial Corp now owns 4,374,456 shares of the company's stock valued at $137,227,000 after buying an additional 1,107,270 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Hormel Foods by 180.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 89,025 shares of the company's stock valued at $2,737,000 after purchasing an additional 57,280 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of Hormel Foods in the 4th quarter valued at about $548,000. Institutional investors and hedge funds own 40.99% of the company's stock.

Hormel Foods Price Performance

HRL stock traded up $0.10 during mid-day trading on Monday, hitting $28.58. 2,435,935 shares of the stock were exchanged, compared to its average volume of 3,113,105. The business has a fifty day moving average price of $29.94 and a 200 day moving average price of $29.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.17. Hormel Foods Corporation has a 12 month low of $27.59 and a 12 month high of $33.80. The stock has a market capitalization of $15.71 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 3.24 and a beta of 0.31.

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

Hormel Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, July 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, July 14th. Hormel Foods's payout ratio is currently 85.29%.

Analyst Ratings Changes

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

View Our Latest Stock Analysis on Hormel Foods

Hormel Foods Company Profile

(Free Report)

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.

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

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