Diversified Trust Co Sells 8,840 Shares of Hormel Foods Corporation (NYSE:HRL)

Diversified Trust Co cut its stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 30.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,064 shares of the company's stock after selling 8,840 shares during the period. Diversified Trust Co's holdings in Hormel Foods were worth $621,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fairway Wealth LLC purchased a new position in shares of Hormel Foods during the 4th quarter valued at about $44,000. Lindbrook Capital LLC raised its stake in Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after acquiring an additional 729 shares during the period. Headlands Technologies LLC purchased a new position in Hormel Foods during the fourth quarter valued at approximately $48,000. Riverview Trust Co boosted its position 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 period. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Hormel Foods in the fourth quarter worth $52,000. Institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Up 0.8%

NYSE HRL opened at $30.50 on Monday. The stock has a 50 day moving average price of $30.10 and a 200-day moving average price of $30.10. Hormel Foods Corporation has a one year low of $27.59 and a one year high of $33.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 2.47. The company has a market capitalization of $16.77 billion, a P/E ratio of 22.42, a P/E/G ratio of 3.47 and a beta of 0.33.

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

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, July 14th will be paid 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 yield of 3.80%. Hormel Foods's payout ratio is currently 85.29%.

Analysts Set New Price Targets

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

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