Lecap Asset Management Ltd. Buys 28,457 Shares of Hormel Foods Corporation (NYSE:HRL)

Lecap Asset Management Ltd. raised its stake in Hormel Foods Corporation (NYSE:HRL - Free Report) by 199.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,760 shares of the company's stock after buying an additional 28,457 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Hormel Foods were worth $1,323,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Fairway Wealth LLC bought a new stake in Hormel Foods in the 4th quarter valued at approximately $44,000. Lindbrook Capital LLC increased its position in shares of Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after purchasing an additional 729 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Hormel Foods during the 4th quarter worth approximately $48,000. Riverview Trust Co boosted its holdings in shares of Hormel Foods by 183.8% in the 1st quarter. Riverview Trust Co now owns 1,572 shares of the company's stock valued at $49,000 after buying an additional 1,018 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Hormel Foods in the fourth quarter valued at $52,000. Institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Up 0.8%

Shares of HRL stock traded up $0.25 on Friday, reaching $30.50. 3,848,825 shares of the company were exchanged, compared to its average volume of 2,678,514. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 3.43 and a beta of 0.33. Hormel Foods Corporation has a one year low of $27.59 and a one year high of $33.80. The company has a 50-day moving average of $30.11 and a 200-day moving average of $30.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.17.

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 analysts' consensus estimates of $0.35. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The firm's revenue was up .3% compared to the same quarter last year. Analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, July 14th. Hormel Foods's dividend payout ratio is presently 85.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HRL. BNP Paribas raised shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Bank of America upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $29.00 to $35.00 in a report on Tuesday, April 15th. The Goldman Sachs Group began coverage on Hormel Foods in a research report on Monday. They issued a "buy" rating and a $35.00 price objective for the company. Stephens reiterated an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research note on Thursday, May 22nd. Finally, BNP Paribas Exane upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price target on the stock in a research note on Tuesday, May 27th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.86.

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.