XTX Topco Ltd Reduces Stake in Hormel Foods Corporation (NYSE:HRL)

XTX Topco Ltd lessened its holdings in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 35.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,285 shares of the company's stock after selling 9,076 shares during the period. XTX Topco Ltd's holdings in Hormel Foods were worth $504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Hormel Foods during the first quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Hormel Foods during the 1st quarter worth approximately $38,000. Riverview Trust Co increased its position in 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 buying an additional 1,018 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in Hormel Foods in the fourth quarter valued at approximately $52,000. Finally, YANKCOM Partnership boosted its holdings in shares of Hormel Foods by 18.5% in the first quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock valued at $95,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Up 0.9%

NYSE HRL opened at $28.51 on Friday. The company has a quick ratio of 1.17, a current ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $15.67 billion, a P/E ratio of 20.96, a P/E/G ratio of 3.22 and a beta of 0.31. Hormel Foods Corporation has a 52-week low of $27.59 and a 52-week high of $33.80. The firm has a 50-day moving average price of $29.98 and a 200 day moving average price of $29.81.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.35 EPS 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 business had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same period last year, the firm earned $0.38 EPS. The company's quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts expect that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, July 14th. Hormel Foods's dividend payout ratio (DPR) is currently 85.29%.

Analyst Ratings Changes

HRL has been the topic of a number of recent research reports. Stephens reaffirmed an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a report on Thursday, May 22nd. BNP Paribas raised shares of 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 target on the stock in a report on Tuesday, May 27th. Bank of America raised Hormel Foods from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $29.00 to $35.00 in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group started coverage on Hormel Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $35.00 price objective for the company. Four 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. According to MarketBeat, Hormel Foods currently has a consensus rating of "Moderate Buy" and an average price target 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.

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