Hormel Foods Co. (NYSE:HRL) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 9.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 816,459 shares of the company's stock after acquiring an additional 72,632 shares during the period. Rhumbline Advisers owned approximately 0.15% of Hormel Foods worth $25,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HRL. Fairway Wealth LLC acquired a new position in shares of Hormel Foods during the fourth quarter worth $44,000. Capital Advisors Ltd. LLC lifted its holdings in Hormel Foods by 86.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after buying an additional 690 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Hormel Foods by 91.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after buying an additional 729 shares in the last quarter. Headlands Technologies LLC acquired a new position in Hormel Foods in the 4th quarter worth $48,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Hormel Foods in the fourth quarter worth about $52,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Elsa A. Murano sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction of $136,800.00. Following the sale, the director now directly owns 95,488 shares in the company, valued at approximately $2,902,835.20. This represents a 4.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Hormel Foods Trading Down 0.1%

NYSE:HRL opened at $30.68 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The business's 50 day moving average is $30.01 and its two-hundred day moving average is $30.28. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $33.80. The company has a market cap of $16.87 billion, a PE ratio of 21.01, a P/E/G ratio of 2.73 and a beta of 0.34.

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, meeting the consensus estimate of $0.35. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The business's revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. On average, analysts predict that Hormel Foods Co. will post 1.65 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 3.78%. Hormel Foods's dividend payout ratio (DPR) is 85.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BNP Paribas upgraded Hormel Foods from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 27th. 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. Stephens reaffirmed an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research report on Thursday, May 22nd. Finally, Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and upped their price target for the company from $29.00 to $35.00 in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.