Caxton Associates LLP Grows Stock Holdings in Hormel Foods Corporation $HRL

Caxton Associates LLP lifted its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 223.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,408 shares of the company's stock after purchasing an additional 93,556 shares during the period. Caxton Associates LLP's holdings in Hormel Foods were worth $3,067,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Invesco Ltd. grew its stake in shares of Hormel Foods by 66.5% in the third quarter. Invesco Ltd. now owns 11,331,941 shares of the company's stock worth $280,352,000 after acquiring an additional 4,526,167 shares during the last quarter. Norges Bank purchased a new position in shares of Hormel Foods in the 4th quarter worth about $85,840,000. Freestone Grove Partners LP bought a new position in Hormel Foods in the 4th quarter worth about $43,340,000. Two Sigma Investments LP grew its position in Hormel Foods by 126.2% during the 3rd quarter. Two Sigma Investments LP now owns 3,174,553 shares of the company's stock valued at $78,538,000 after purchasing an additional 1,770,852 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Hormel Foods by 189.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,414,341 shares of the company's stock valued at $57,220,000 after purchasing an additional 1,581,046 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Up 1.1%

HRL stock opened at $25.30 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 50-day moving average of $24.01 and a two-hundred day moving average of $23.33. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $29.34. The company has a market cap of $13.93 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.88 and a beta of 0.34.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. The firm 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 firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. As a group, analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be paid a $0.2925 dividend. 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 4.6%. Hormel Foods's payout ratio is presently 137.65%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. 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. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research report on Thursday, May 21st. Stephens reaffirmed an "equal weight" rating and issued a $25.00 target price on shares of Hormel Foods in a report on Thursday, July 9th. BNP Paribas Exane boosted their target price on Hormel Foods from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Finally, Bank of America increased their price target on Hormel Foods from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $26.14.

Insider Activity

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

Hormel Foods Company 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.

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