Harel Insurance Investments & Financial Services Ltd. Buys Shares of 14,240 Hormel Foods Corporation (NYSE:HRL)

Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,240 shares of the company's stock, valued at approximately $441,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in Hormel Foods in the fourth quarter valued at $44,000. Lindbrook Capital LLC boosted its position in shares of Hormel Foods by 91.8% in the fourth 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 last quarter. Headlands Technologies LLC purchased a new stake in shares of Hormel Foods during the 4th quarter valued at $48,000. Riverview Trust Co grew its position in Hormel Foods by 183.8% during the first quarter. Riverview Trust Co now owns 1,572 shares of the company's stock valued at $49,000 after acquiring an additional 1,018 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Hormel Foods during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 40.99% of the company's stock.

Hormel Foods Price Performance

Shares of Hormel Foods stock traded down $0.12 on Friday, hitting $30.69. The company had a trading volume of 2,548,050 shares, compared to its average volume of 2,690,947. The business has a 50-day simple moving average of $30.13 and a 200-day simple moving average of $30.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.17. The company has a market cap of $16.88 billion, a PE ratio of 22.57, a PEG ratio of 3.47 and a beta of 0.33. Hormel Foods Corporation has a 52 week low of $27.59 and a 52 week high of $33.80.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The firm 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%. The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Research analysts expect that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The company also recently declared 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. 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 presently 85.29%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HRL shares. BNP Paribas upgraded Hormel Foods from a "strong sell" rating to a "hold" rating in a report 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 objective on the stock. Stephens reiterated an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research report on Thursday, May 22nd. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $29.00 to $35.00 in a research report on Tuesday, April 15th. Finally, BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 target price on the stock in a research report on Tuesday, May 27th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.86.

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.