Hormel Foods Corporation (HRL) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its position in Hormel Foods Corporation (NYSE:HRL) by 7.1% during the first quarter, Holdings Channel reports. The firm owned 16,218 shares of the company’s stock after buying an additional 1,070 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Hormel Foods Corporation were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. purchased a new position in Hormel Foods Corporation during the fourth quarter worth approximately $125,000. Canada Pension Plan Investment Board increased its position in Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock worth $132,000 after buying an additional 2,664 shares during the period. Van ECK Associates Corp increased its position in Hormel Foods Corporation by 9.4% in the fourth quarter. Van ECK Associates Corp now owns 4,092 shares of the company’s stock worth $142,000 after buying an additional 352 shares during the period. Pacer Advisors Inc. increased its position in Hormel Foods Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock worth $194,000 after buying an additional 176 shares during the period. Finally, Gulf International Bank UK Ltd increased its position in Hormel Foods Corporation by 27.5% in the first quarter. Gulf International Bank UK Ltd now owns 6,026 shares of the company’s stock worth $208,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 38.12% of the company’s stock.

Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

Shares of Hormel Foods Corporation (NYSE:HRL) traded down 1.02% during trading on Tuesday, reaching $34.00. 1,104,644 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $34.42 and a 200-day moving average price of $35.04. The company has a market capitalization of $17.97 billion, a PE ratio of 20.73 and a beta of 0.55. Hormel Foods Corporation has a 52-week low of $32.90 and a 52-week high of $40.00.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.22 billion. Hormel Foods Corporation had a return on equity of 19.57% and a net margin of 9.42%. Hormel Foods Corporation’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. On average, equities analysts forecast that Hormel Foods Corporation will post $1.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 17th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.68 annualized dividend and a yield of 1.98%. Hormel Foods Corporation’s dividend payout ratio is 41.46%.

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A number of equities analysts recently commented on HRL shares. Credit Suisse Group decreased their price target 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. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price target on shares of Hormel Foods Corporation in a research note on Thursday, March 30th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Finally, Mizuho initiated coverage on shares of Hormel Foods Corporation in a report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.27.

In other Hormel Foods Corporation news, Director Elsa A. Murano sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $34.50, for a total transaction of $258,750.00. Following the sale, the director now directly owns 74,991 shares of the company’s stock, valued at $2,587,189.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luis G. Marconi sold 1,300 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the sale, the insider now directly owns 22,532 shares in the company, valued at $784,338.92. The disclosure for this sale can be found here. Insiders have sold 87,087 shares of company stock worth $3,000,806 over the last ninety days. Insiders own 3.54% of the company’s stock.

Hormel Foods Corporation Company Profile

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