Deutsche Bank AG Grows Stake in Hormel Foods Corporation (NYSE:HRL)

Key Points

• Deutsche Bank AG increased its stake in Hormel Foods Corporation by 7.0%, now owning approximately 0.30% of the company valued at $51.17 million.
• The quarterly earnings report for Hormel Foods showed EPS of $0.35, meeting estimates, but revenue of $2.90 billion fell slightly short of projections.
• Hormel Foods announced a dividend of $0.29 per share with a yield of 4.1%, set to be paid on August 15th to shareholders on record by July 14th.

Deutsche Bank AG lifted its stake in Hormel Foods Corporation (NYSE:HRL - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,653,713 shares of the company's stock after purchasing an additional 108,258 shares during the period. Deutsche Bank AG owned approximately 0.30% of Hormel Foods worth $51,166,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HRL. Pacer Advisors Inc. lifted its holdings in shares of Hormel Foods by 9,725.4% in the first quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company's stock valued at $72,270,000 after purchasing an additional 2,312,024 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Hormel Foods by 496.3% during the 4th quarter. Two Sigma Advisers LP now owns 2,185,600 shares of the company's stock worth $68,562,000 after purchasing an additional 1,819,100 shares during the last quarter. Two Sigma Investments LP lifted its stake in Hormel Foods by 466.5% in the 4th quarter. Two Sigma Investments LP now owns 2,053,160 shares of the company's stock valued at $64,408,000 after buying an additional 1,690,746 shares in the last quarter. Stifel Financial Corp grew its holdings in Hormel Foods by 33.9% during the 4th 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 last quarter. Finally, Man Group plc increased its position in Hormel Foods by 186.0% during the fourth quarter. Man Group plc now owns 1,041,356 shares of the company's stock worth $32,667,000 after buying an additional 677,194 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Up 0.7%

Shares of HRL traded up $0.22 during mid-day trading on Wednesday, hitting $28.98. The company had a trading volume of 2,638,046 shares, compared to its average volume of 2,856,755. Hormel Foods Corporation has a 1-year low of $27.59 and a 1-year high of $33.80. The business's 50-day simple moving average is $29.82 and its 200-day simple moving average is $29.76. The stock has a market cap of $15.93 billion, a PE ratio of 21.31, a P/E/G ratio of 3.27 and a beta of 0.31. The company has a quick ratio of 1.17, a current ratio of 2.47 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL - Get Free Report) last announced 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. The company had revenue of $2.90 billion for 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 for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. Sell-side analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, July 14th. Hormel Foods's payout ratio is currently 85.29%.

Wall Street Analyst Weigh In

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

Hormel Foods 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.