Hormel Foods Corporation (NYSE:HRL) Position Raised by Rothschild Asset Management Inc.

Rothschild Asset Management Inc. increased its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 23.6% during the second quarter, Holdings Channel reports. The firm owned 19,613 shares of the company’s stock after buying an additional 3,751 shares during the period. Rothschild Asset Management Inc.’s holdings in Hormel Foods Corporation were worth $669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of HRL. Cleararc Capital Inc. boosted its position in Hormel Foods Corporation by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,595 shares of the company’s stock valued at $228,000 after buying an additional 19 shares during the period. Harfst & Associates Inc. boosted its position in Hormel Foods Corporation by 0.4% in the first quarter. Harfst & Associates Inc. now owns 10,021 shares of the company’s stock valued at $347,000 after buying an additional 40 shares during the period. ING Groep NV boosted its position in Hormel Foods Corporation by 0.4% in the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock valued at $471,000 after buying an additional 53 shares during the period. Dynamic Advisors Solutions LLC boosted its position in Hormel Foods Corporation by 0.6% in the second quarter. Dynamic Advisors Solutions LLC now owns 10,290 shares of the company’s stock valued at $351,000 after buying an additional 65 shares during the period. Finally, Ffcm LLC boosted its position in Hormel Foods Corporation by 0.7% in the first quarter. Ffcm LLC now owns 8,996 shares of the company’s stock valued at $312,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 38.35% of the company’s stock.

Shares of Hormel Foods Corporation (HRL) opened at 33.66 on Friday. The company’s 50-day moving average is $33.66 and its 200 day moving average is $34.68. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 20.52 and a beta of 0.56. Hormel Foods Corporation has a 1-year low of $32.26 and a 1-year high of $40.00.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio is 41.46%.

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Several research firms have recently issued reports on HRL. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Hormel Foods Corporation in a report on Friday, June 16th. Barclays PLC began coverage on shares of Hormel Foods Corporation in a report on Tuesday, June 6th. They issued an “overweight” rating and a $38.00 price objective for the company. BidaskClub cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price objective on shares of Hormel Foods Corporation in a report on Friday, June 30th. Finally, Zacks Investment Research cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $40.27.

In other news, insider Thomas R. Day sold 11,139 shares of Hormel Foods Corporation stock in a transaction that occurred on 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 owns 24,838 shares in the company, valued at approximately $830,334.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Luis G. Marconi sold 1,300 shares of Hormel Foods Corporation stock in a transaction that occurred on 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 owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The disclosure for this sale can be found here. 3.54% of the stock is owned by insiders.

Hormel Foods Corporation Company Profile

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corporation (NYSE:HRL).

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

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