Cwm LLC Increases Stake in Hormel Foods Corporation (NYSE:HRL)

Cwm LLC raised its holdings in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 550,949 shares of the company's stock after purchasing an additional 12,006 shares during the quarter. Cwm LLC owned approximately 0.10% of Hormel Foods worth $17,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Hormel Foods by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company's stock valued at $1,168,257,000 after buying an additional 268,328 shares in the last quarter. Invesco Ltd. lifted its position in shares of Hormel Foods by 7.3% during the fourth quarter. Invesco Ltd. now owns 7,843,207 shares of the company's stock worth $246,041,000 after acquiring an additional 533,657 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Hormel Foods by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,461,100 shares of the company's stock worth $233,459,000 after acquiring an additional 98,442 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Hormel Foods by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 6,072,682 shares of the company's stock worth $190,500,000 after acquiring an additional 413,669 shares during the period. Finally, Millennium Management LLC grew its position in shares of Hormel Foods by 6.2% in the fourth quarter. Millennium Management LLC now owns 4,488,678 shares of the company's stock valued at $140,810,000 after purchasing an additional 261,742 shares in the last quarter. Institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Performance

NYSE HRL opened at $30.51 on Monday. Hormel Foods Corporation has a 52-week low of $27.59 and a 52-week high of $33.80. The company has a fifty day moving average of $30.27 and a 200-day moving average of $30.03. The company has a market capitalization of $16.78 billion, a P/E ratio of 22.43, a P/E/G ratio of 3.47 and a beta of 0.33. 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 (NYSE:HRL - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, meeting analysts' consensus estimates of $0.35. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company's revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Announces Dividend

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

Wall Street Analyst Weigh In

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

Hormel Foods Company 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.

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