Hormel Foods Corporation $HRL Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC significantly increased its stake in Hormel Foods, boosting holdings by 167.1% in the first quarter to 538,072 shares valued at about $12.2 million.
• Hormel Foods recently posted better-than-expected quarterly results, with EPS of $0.40 versus the $0.35 consensus and revenue of $2.97 billion, up 2.6% year over year.
• The company declared a quarterly dividend of $0.2925 per share, implying an annualized yield of 4.4%, while analysts currently rate the stock a consensus Hold with a target price of $25.67.

SG Americas Securities LLC lifted its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 167.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,072 shares of the company's stock after acquiring an additional 336,634 shares during the quarter. SG Americas Securities LLC owned 0.10% of Hormel Foods worth $12,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HRL. Caxton Associates LLP acquired a new stake in Hormel Foods in the first quarter valued at $310,000. Empowered Funds LLC boosted its position in shares of Hormel Foods by 1.8% in the 1st quarter. Empowered Funds LLC now owns 57,500 shares of the company's stock worth $1,779,000 after buying an additional 993 shares in the last quarter. Woodline Partners LP grew its stake in Hormel Foods by 40.8% in the 1st quarter. Woodline Partners LP now owns 24,583 shares of the company's stock valued at $761,000 after acquiring an additional 7,129 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Hormel Foods by 214.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company's stock valued at $143,000 after acquiring an additional 3,226 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Hormel Foods by 76.5% during the 2nd quarter. Cerity Partners LLC now owns 103,616 shares of the company's stock valued at $3,134,000 after acquiring an additional 44,906 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Stock Performance

Shares of NYSE HRL opened at $26.50 on Friday. The company has a 50-day simple moving average of $22.36 and a 200-day simple moving average of $23.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The company has a market cap of $14.58 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.35. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $31.86.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts anticipate that Hormel Foods Corporation will post 1.5 earnings per share for the current year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be given a $0.2925 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. Hormel Foods's payout ratio is currently 137.65%.

Analyst Ratings Changes

HRL has been the subject of a number of research reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Bank of America raised their price objective on shares of Hormel Foods from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research note on Thursday, May 21st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Hormel Foods in a report on Tuesday, April 21st. Finally, Stephens raised their price target on Hormel Foods from $22.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $25.67.

Hormel Foods Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company's portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.

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