Hormel Foods Corporation (NYSE:HRL) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its position in Hormel Foods Corporation (NYSE:HRL - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,886 shares of the company's stock after selling 11,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Hormel Foods were worth $3,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HRL. Fairway Wealth LLC purchased a new position in shares of Hormel Foods in the fourth quarter valued at approximately $44,000. Capital Advisors Ltd. LLC lifted its holdings in Hormel Foods by 86.9% during 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. Headlands Technologies LLC purchased a new position in Hormel Foods in the 4th quarter valued at approximately $48,000. Lindbrook Capital LLC grew its stake 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 in the last quarter. Finally, Riverview Trust Co increased its position in shares of Hormel Foods by 183.8% during the first quarter. Riverview Trust Co now owns 1,572 shares of the company's stock worth $49,000 after acquiring an additional 1,018 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HRL. Stephens reiterated an "equal weight" rating and issued a $31.00 price objective on shares of Hormel Foods in a research note on Thursday, May 22nd. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price target on the stock in a research report on Tuesday, May 27th. BNP Paribas upgraded Hormel Foods from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Finally, Bank of America raised Hormel Foods from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $29.00 to $35.00 in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.50.

Insider Activity at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the firm's 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 transaction, the director now owns 95,488 shares in the company, valued at $2,902,835.20. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

Hormel Foods Stock Up 0.7%

Shares of NYSE:HRL traded up $0.23 on Friday, hitting $30.39. 7,404,215 shares of the company's stock were exchanged, compared to its average volume of 2,656,751. Hormel Foods Corporation has a 1-year low of $27.59 and a 1-year high of $33.80. The company has a market capitalization of $16.71 billion, a PE ratio of 22.34, a P/E/G ratio of 3.42 and a beta of 0.33. 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 firm's 50-day moving average is $30.11 and its 200 day moving average is $30.23.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.92 billion. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. Sell-side analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Announces Dividend

The business also recently declared 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 is Monday, July 14th. This represents a $1.16 annualized dividend and a yield of 3.82%. Hormel Foods's dividend payout ratio is currently 85.29%.

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.