AlphaCrest Capital Management LLC boosted its stake in Hormel Foods Co. (NYSE:HRL) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 196,495 shares of the company’s stock after acquiring an additional 6,910 shares during the quarter. Hormel Foods comprises about 0.5% of AlphaCrest Capital Management LLC’s holdings, making the stock its 16th largest holding. AlphaCrest Capital Management LLC’s holdings in Hormel Foods were worth $9,389,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of HRL. Lindbrook Capital LLC increased its holdings in shares of Hormel Foods by 212.4% in the 1st quarter. Lindbrook Capital LLC now owns 581 shares of the company’s stock valued at $28,000 after acquiring an additional 395 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Hormel Foods by 49.1% in the 4th quarter. Meeder Asset Management Inc. now owns 692 shares of the company’s stock worth $32,000 after purchasing an additional 228 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Hormel Foods by 1,370.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 735 shares of the company’s stock worth $34,000 after purchasing an additional 685 shares during the last quarter. Emerson Wealth Management LLC bought a new stake in shares of Hormel Foods in the 1st quarter worth approximately $38,000. Finally, Inspire Advisors LLC bought a new position in Hormel Foods in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 40.44% of the company’s stock.
In other Hormel Foods news, Director Susan K. Nestegard sold 16,470 shares of the company’s stock in a transaction dated Friday, June 11th. The shares were sold at an average price of $48.51, for a total transaction of $798,959.70. Following the completion of the sale, the director now directly owns 90,901 shares in the company, valued at $4,409,607.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Swen Neufeldt sold 6,200 shares of the company’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $49.50, for a total transaction of $306,900.00. Following the sale, the vice president now owns 19,821 shares of the company’s stock, valued at $981,139.50. The disclosure for this sale can be found here. Insiders sold 53,670 shares of company stock valued at $2,606,470 over the last quarter. Corporate insiders own 0.80% of the company’s stock.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, May 19th. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a net margin of 8.99% and a return on equity of 13.68%. Hormel Foods’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. On average, equities research analysts expect that Hormel Foods Co. will post 1.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, July 12th will be paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, July 9th. Hormel Foods’s dividend payout ratio (DPR) is presently 59.04%.
Separately, Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $52.00 target price on the stock in a report on Friday, May 21st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Hormel Foods presently has an average rating of “Hold” and a consensus price target of $48.00.
Hormel Foods Profile
Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.
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