Revisor Wealth Management LLC Makes New Investment in Hormel Foods Corporation (NYSE:HRL)

Revisor Wealth Management LLC bought a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,982 shares of the company's stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors have also modified their holdings of HRL. Fairway Wealth LLC purchased a new stake in Hormel Foods in the 4th quarter worth about $44,000. Lindbrook Capital LLC increased its holdings 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 valued at $48,000 after purchasing an additional 729 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth approximately $48,000. Riverview Trust Co lifted its position in shares of Hormel Foods by 183.8% in the first quarter. Riverview Trust Co now owns 1,572 shares of the company's stock worth $49,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Hormel Foods during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 40.99% of the company's stock.

Hormel Foods Trading Down 0.4%

Shares of NYSE:HRL opened at $30.69 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $16.88 billion, a PE ratio of 22.57, a P/E/G ratio of 3.51 and a beta of 0.33. Hormel Foods Corporation has a 1 year low of $27.59 and a 1 year high of $33.80. The firm has a fifty day moving average price of $30.11 and a 200 day moving average price of $30.08.

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

Hormel Foods Dividend Announcement

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

Analyst Ratings Changes

HRL has been the topic of several research reports. The Goldman Sachs Group initiated 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. Stephens restated an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a report on Thursday, May 22nd. BNP Paribas upgraded Hormel Foods from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 27th. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price objective for the company in a research report on Tuesday, May 27th. Finally, Bank of America raised Hormel Foods from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $29.00 to $35.00 in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.

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