Mather Group LLC. Has $14.38 Million Holdings in Hormel Foods Corporation (NYSE:HRL)

Mather Group LLC. lifted its stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 464,889 shares of the company's stock after purchasing an additional 39,332 shares during the quarter. Mather Group LLC. owned about 0.08% of Hormel Foods worth $14,384,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of Hormel Foods during the fourth quarter valued at approximately $44,000. Headlands Technologies LLC bought a new stake in shares of Hormel Foods in the 4th quarter worth $48,000. Lindbrook Capital LLC raised its stake in shares of 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. Riverview Trust Co boosted its stake in Hormel Foods by 183.8% during the first 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 in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Hormel Foods during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 40.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HRL shares. The Goldman Sachs Group assumed coverage on shares of Hormel Foods in a research note on Monday, June 23rd. They issued a "buy" rating and a $35.00 price objective on the stock. BNP Paribas Exane upgraded shares of Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 target price for the company in a report on Tuesday, May 27th. BNP Paribas upgraded shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Stephens reiterated an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Thursday, May 22nd. Finally, Bank of America raised Hormel Foods from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $29.00 to $35.00 in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.86.

Hormel Foods Stock Down 0.4%

NYSE:HRL traded down $0.12 during trading hours on Friday, hitting $30.69. 2,548,050 shares of the stock traded hands, compared to its average volume of 2,690,947. The firm has a 50 day moving average price of $30.13 and a 200 day moving average price of $30.07. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 3.47 and a beta of 0.33. Hormel Foods Corporation has a fifty-two week low of $27.59 and a fifty-two week high of $33.80. The company has a current ratio of 2.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

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 for the quarter, meeting the consensus estimate of $0.35. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. Hormel Foods's quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Monday, July 14th. Hormel Foods's payout ratio is presently 85.29%.

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.