Hormel Foods Corporation (NYSE:HRL) Shares Sold by Diversified Trust Co

Diversified Trust Co decreased its stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 30.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,064 shares of the company's stock after selling 8,840 shares during the quarter. Diversified Trust Co's holdings in Hormel Foods were worth $621,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HRL. Fairway Wealth LLC bought a new stake in Hormel Foods in the fourth quarter worth about $44,000. Lindbrook Capital LLC lifted its position in shares of Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after purchasing an additional 729 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Hormel Foods during the fourth quarter valued at $48,000. Riverview Trust Co grew its holdings in shares of Hormel Foods by 183.8% in the first quarter. Riverview Trust Co now owns 1,572 shares of the company's stock worth $49,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Hormel Foods in the fourth quarter worth about $52,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HRL has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Hormel Foods in a report on Monday, June 23rd. They set a "buy" rating and a $35.00 price objective for the company. 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 note on Tuesday, May 27th. BNP Paribas raised 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 set a $31.00 target price on shares of Hormel Foods in a research report on Thursday, May 22nd. Finally, Bank of America upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and raised their price target for the company 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.86.

Hormel Foods Stock Down 0.4%

Shares of HRL traded down $0.12 during trading hours on Thursday, hitting $30.69. The company had a trading volume of 2,548,050 shares, compared to its average volume of 2,683,122. The company has a current ratio of 2.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $16.88 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 3.49 and a beta of 0.33. Hormel Foods Corporation has a one year low of $27.59 and a one year high of $33.80. The company's fifty day moving average price is $30.10 and its two-hundred day moving average price is $30.09.

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. The business had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.92 billion. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. The company's revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. As a group, equities analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, July 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.78%. Hormel Foods's dividend payout ratio (DPR) is currently 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.