Markel Corp purchased a new position in Hormel Foods Corporation (NYSE:HRL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,000 shares of the company’s stock, valued at approximately $239,000.
Other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in shares of Hormel Foods Corporation by 5.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,140 shares of the company’s stock valued at $354,000 after buying an additional 520 shares during the period. Teachers Advisors LLC raised its position in shares of Hormel Foods Corporation by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 379,047 shares of the company’s stock valued at $13,195,000 after buying an additional 18,241 shares during the period. Kentucky Retirement Systems purchased a new stake in Hormel Foods Corporation during the fourth quarter valued at about $682,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Hormel Foods Corporation during the fourth quarter valued at about $304,000. Finally, Toth Financial Advisory Corp increased its stake in Hormel Foods Corporation by 1.9% in the first quarter. Toth Financial Advisory Corp now owns 73,156 shares of the company’s stock valued at $2,533,000 after buying an additional 1,359 shares in the last quarter. 38.40% of the stock is currently owned by institutional investors.
Shares of Hormel Foods Corporation (HRL) traded up 0.68% on Friday, reaching $34.09. The company had a trading volume of 1,782,300 shares. The company has a 50 day moving average price of $33.62 and a 200 day moving average price of $34.58. The stock has a market capitalization of $18.02 billion, a PE ratio of 20.79 and a beta of 0.56. Hormel Foods Corporation has a 52-week low of $32.26 and a 52-week high of $40.00.
Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, May 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Hormel Foods Corporation will post $1.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.46%.
Several research firms have recently issued reports on HRL. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Mizuho assumed coverage on Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price objective for the company. Finally, Credit Suisse Group cut their target price on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.50.
In other Hormel Foods Corporation news, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the sale, the insider now owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the completion of the sale, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.
About Hormel Foods Corporation
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