Hormel Foods Corporation $HRL Stock Holdings Increased by Sei Investments Co.

Key Points

• Sei Investments Co. more than doubled its Hormel Foods holdings in the first quarter, increasing its stake by 107.6% to 90,596 shares valued at approximately $2.05 million. Institutional investors now own about 40.99% of HRL.
• Hormel reported quarterly earnings of $0.40 per share, exceeding estimates by $0.05, while revenue rose 2.6% year over year to $2.97 billion. The company declared a quarterly dividend of $0.2925 per share, representing a 4.7% annualized yield.
• Analysts maintain a largely cautious view, with HRL carrying a consensus “Hold” rating and an average price target of $26.14; one director also sold 20,200 shares at an average price of $24.51.

Sei Investments Co. boosted its holdings in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 107.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,596 shares of the company's stock after purchasing an additional 46,957 shares during the period. Sei Investments Co.'s holdings in Hormel Foods were worth $2,052,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HRL. Keynote Financial Services LLC increased its holdings in shares of Hormel Foods by 17.6% in the first quarter. Keynote Financial Services LLC now owns 35,805 shares of the company's stock valued at $811,000 after buying an additional 5,367 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Hormel Foods by 1.0% during the 1st quarter. Cetera Investment Advisers now owns 189,337 shares of the company's stock worth $4,288,000 after acquiring an additional 1,820 shares in the last quarter. ABN Amro Investment Solutions grew its holdings in shares of Hormel Foods by 36.9% in the 1st quarter. ABN Amro Investment Solutions now owns 49,846 shares of the company's stock worth $1,129,000 after acquiring an additional 13,435 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Hormel Foods by 14.6% during the first quarter. PNC Financial Services Group Inc. now owns 83,107 shares of the company's stock worth $1,882,000 after purchasing an additional 10,604 shares during the period. Finally, Oslo Pensjonsforsikring AS acquired a new stake in shares of Hormel Foods during the first quarter worth $155,000. 40.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Gary C. Bhojwani sold 20,200 shares of Hormel Foods stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the sale, the director owned 32,002 shares of the company's stock, valued at approximately $784,369.02. The trade was a 38.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company's stock.

Hormel Foods Trading Up 0.1%

Shares of NYSE HRL opened at $25.04 on Monday. The business has a 50 day simple moving average of $24.81 and a 200 day simple moving average of $23.46. Hormel Foods Corporation has a 52 week low of $19.70 and a 52 week high of $29.34. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 2.88 and a beta of 0.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94.

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

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be issued a dividend of $0.2925 per share. The ex-dividend date is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.7%. Hormel Foods's dividend payout ratio (DPR) is currently 137.65%.

Wall Street Analyst Weigh In

HRL has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Hormel Foods in a research report on Friday, July 17th. Bank of America boosted their price objective on Hormel Foods from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. BNP Paribas Exane upped their price objective on shares of Hormel Foods from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Stephens reiterated an "equal weight" rating and issued a $25.00 target price on shares of Hormel Foods in a report on Thursday, July 9th. Finally, The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research report on Thursday, May 21st. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Hormel Foods presently has an average rating of "Hold" and a consensus target price of $26.14.

Hormel Foods Company 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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