Masters Capital Management LLC Purchases Shares of 850,000 Hormel Foods Corporation $HRL

Masters Capital Management LLC purchased a new position in shares of Hormel Foods Corporation (NYSE:HRL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 850,000 shares of the company’s stock, valued at approximately $19,252,000.

A number of other institutional investors also recently made changes to their positions in HRL. Caxton Associates LLP bought a new stake in Hormel Foods in the first quarter worth $310,000. Empowered Funds LLC grew its stake in shares of Hormel Foods by 1.8% during the first quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock valued at $1,779,000 after buying an additional 993 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Hormel Foods by 40.8% in the first quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock worth $761,000 after buying an additional 7,129 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Hormel Foods by 214.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock worth $143,000 after buying an additional 3,226 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Hormel Foods by 76.5% in the 2nd quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock valued at $3,134,000 after acquiring an additional 44,906 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Down 0.0%

NYSE HRL opened at $25.30 on Monday. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $29.34. The stock has a market capitalization of $13.93 billion, a PE ratio of 29.77, a PEG ratio of 2.91 and a beta of 0.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The business’s 50-day moving average is $24.01 and its 200 day moving average is $23.33.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business posted $0.35 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s payout ratio is presently 137.65%.

Insider Buying and Selling

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the transaction, the director directly owned 32,002 shares in the company, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

HRL has been the subject of several analyst reports. Stephens restated an “equal weight” rating and set a $25.00 target price on shares of Hormel Foods in a report on Thursday, July 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $23.00 price target (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Friday, July 17th. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research note on Thursday, May 21st. Finally, Bank of America raised their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.14.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.