Yousif Capital Management LLC Purchases 22,367 Shares of Hormel Foods Co. (NYSE:HRL)

Yousif Capital Management LLC increased its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 233,941 shares of the company's stock after purchasing an additional 22,367 shares during the quarter. Yousif Capital Management LLC's holdings in Hormel Foods were worth $7,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in Hormel Foods by 34.7% in the 1st quarter. Farther Finance Advisors LLC now owns 19,849 shares of the company's stock valued at $610,000 after acquiring an additional 5,115 shares during the period. Sovereign Financial Group Inc. increased its holdings in shares of Hormel Foods by 2.7% in the first quarter. Sovereign Financial Group Inc. now owns 17,718 shares of the company's stock valued at $548,000 after purchasing an additional 458 shares during the last quarter. Procyon Advisors LLC acquired a new position in shares of Hormel Foods in the first quarter valued at $585,000. Davis Capital Management raised its position in shares of Hormel Foods by 8.9% in the first quarter. Davis Capital Management now owns 20,313 shares of the company's stock valued at $628,000 after purchasing an additional 1,659 shares during the period. Finally, Riverview Trust Co lifted its stake in shares of 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 buying an additional 1,018 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Trading Up 0.4%

HRL traded up $0.11 during trading on Thursday, reaching $31.04. 1,766,607 shares of the stock traded hands, compared to its average volume of 2,634,175. The stock has a market capitalization of $17.07 billion, a PE ratio of 21.26, a P/E/G ratio of 2.73 and a beta of 0.33. The stock's 50-day moving average is $30.02 and its 200 day moving average is $30.30. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $33.80.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. The company had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.92 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The business's revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. Equities analysts anticipate that Hormel Foods Co. will post 1.65 earnings per share for the current 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 paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, July 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.74%. Hormel Foods's dividend payout ratio (DPR) is currently 85.29%.

Analysts Set New Price Targets

A number of brokerages recently commented on HRL. BNP Paribas upgraded shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $29.00 to $35.00 in a research note on Tuesday, April 15th. Stephens reissued an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a report on Thursday, May 22nd. Finally, 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 research note on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.50.

Insider Activity at Hormel Foods

In other news, Director Elsa A. Murano sold 4,500 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of the transaction, the director now directly owns 95,488 shares of the company's stock, valued at $2,902,835.20. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

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.