Hormel Foods Corporation (NYSE:HRL) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 78.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,541 shares of the company's stock after buying an additional 64,577 shares during the quarter. Teacher Retirement System of Texas' holdings in Hormel Foods were worth $4,534,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in Hormel Foods during the 4th quarter worth approximately $44,000. Headlands Technologies LLC acquired a new stake in Hormel Foods during the 4th quarter worth approximately $48,000. Riverview Trust Co lifted its position in Hormel Foods by 183.8% during the 1st 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. Canada Post Corp Registered Pension Plan acquired a new stake in Hormel Foods during the 4th quarter worth approximately $52,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Hormel Foods by 34.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,187 shares of the company's stock valued at $99,000 after buying an additional 816 shares during the period. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Price Performance

NYSE HRL traded up $0.18 during mid-day trading on Wednesday, hitting $31.28. The stock had a trading volume of 3,778,291 shares, compared to its average volume of 2,705,545. Hormel Foods Corporation has a 52-week low of $27.59 and a 52-week high of $33.80. The company has a market cap of $17.20 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 3.47 and a beta of 0.33. The company has a 50 day simple moving average of $30.18 and a 200 day simple moving average of $30.05. The company has a quick ratio of 1.17, a current ratio of 2.47 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the business posted $0.38 EPS. Hormel Foods's quarterly revenue was up .3% on a year-over-year basis. Equities analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, July 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, July 14th. Hormel Foods's payout ratio is 85.29%.

Wall Street Analysts Forecast Growth

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

Hormel Foods Company 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.