CFC Planning Co LLC Acquires Shares of 9,545 Hormel Foods Corporation (NYSE:HRL)

CFC Planning Co LLC acquired a new stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,545 shares of the company's stock, valued at approximately $295,000.

Several other institutional investors have also added to or reduced their stakes in HRL. Headlands Technologies LLC acquired a new position in shares of Hormel Foods during the fourth quarter valued at about $48,000. Riverview Trust Co boosted its holdings in Hormel Foods by 183.8% in the 1st quarter. Riverview Trust Co now owns 1,572 shares of the company's stock worth $49,000 after buying an additional 1,018 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in Hormel Foods in the 4th quarter worth approximately $52,000. YANKCOM Partnership lifted its stake in Hormel Foods by 18.5% in the 1st quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock worth $95,000 after purchasing an additional 480 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Hormel Foods by 34.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,187 shares of the company's stock worth $99,000 after purchasing an additional 816 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HRL has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Hormel Foods in a report on Monday, June 23rd. They set a "buy" rating and a $35.00 target price on the stock. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $29.00 to $35.00 in a research note on Tuesday, April 15th. BNP Paribas raised shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Stephens reissued an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research report on Thursday, May 22nd. Finally, BNP Paribas Exane raised shares of 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. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $32.86.

Hormel Foods Stock Down 3.3%

Hormel Foods stock traded down $1.03 during midday trading on Friday, hitting $30.51. 8,333,504 shares of the company's stock were exchanged, compared to its average volume of 2,733,099. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 2.47. Hormel Foods Corporation has a 12 month low of $27.59 and a 12 month high of $33.80. The firm has a 50-day moving average of $30.27 and a two-hundred day moving average of $30.05. The company has a market cap of $16.78 billion, a PE ratio of 22.43, a P/E/G ratio of 3.59 and a beta of 0.33.

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

Hormel Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Monday, July 14th. Hormel Foods's dividend payout ratio (DPR) is presently 85.29%.

About Hormel Foods

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.