Quadrant Capital Group LLC Buys 281 Shares of Hormel Foods Co. (NYSE:HRL)

Quadrant Capital Group LLC raised its holdings in shares of Hormel Foods Co. (NYSE:HRLGet Rating) by 6.5% in the first quarter, HoldingsChannel reports. The firm owned 4,579 shares of the company’s stock after buying an additional 281 shares during the quarter. Quadrant Capital Group LLC’s holdings in Hormel Foods were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Regentatlantic Capital LLC raised its position in Hormel Foods by 2.6% during the 1st quarter. Regentatlantic Capital LLC now owns 8,267 shares of the company’s stock valued at $426,000 after purchasing an additional 210 shares during the last quarter. Savant Capital LLC raised its position in shares of Hormel Foods by 3.2% in the 4th quarter. Savant Capital LLC now owns 6,778 shares of the company’s stock worth $331,000 after acquiring an additional 211 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Hormel Foods by 14.2% in the 1st quarter. CENTRAL TRUST Co now owns 1,804 shares of the company’s stock worth $93,000 after acquiring an additional 225 shares in the last quarter. Arizona State Retirement System raised its position in shares of Hormel Foods by 0.3% in the 1st quarter. Arizona State Retirement System now owns 81,882 shares of the company’s stock worth $4,220,000 after acquiring an additional 226 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its position in shares of Hormel Foods by 3.6% in the 4th quarter. Wetherby Asset Management Inc. now owns 6,923 shares of the company’s stock worth $338,000 after acquiring an additional 239 shares in the last quarter. Institutional investors own 41.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on HRL shares. Piper Sandler decreased their target price on Hormel Foods to $48.00 in a research report on Friday, June 3rd. Credit Suisse Group decreased their target price on Hormel Foods to $44.00 in a research report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.83.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, SVP Kevin L. Myers sold 5,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $45.07, for a total transaction of $225,350.00. Following the sale, the senior vice president now directly owns 32,869 shares in the company, valued at approximately $1,481,405.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Hormel Foods news, SVP Kevin L. Myers sold 5,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $45.07, for a total transaction of $225,350.00. Following the sale, the senior vice president now directly owns 32,869 shares in the company, valued at approximately $1,481,405.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Policinski sold 2,110 shares of the stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $46.27, for a total value of $97,629.70. Following the sale, the director now owns 85,254 shares in the company, valued at $3,944,702.58. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

Hormel Foods Stock Performance

Hormel Foods stock opened at $48.91 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.28 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $26.71 billion, a P/E ratio of 27.95, a PEG ratio of 3.35 and a beta of 0.13. The stock’s 50 day moving average is $47.23 and its 200 day moving average is $49.19. Hormel Foods Co. has a twelve month low of $40.48 and a twelve month high of $55.11.

Hormel Foods (NYSE:HRLGet Rating) last posted its quarterly earnings results on Thursday, June 2nd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.07 billion. Hormel Foods had a return on equity of 14.10% and a net margin of 7.70%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, equities research analysts predict that Hormel Foods Co. will post 1.87 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, July 11th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, July 8th. This represents a $1.04 annualized dividend and a yield of 2.13%. Hormel Foods’s dividend payout ratio is 59.43%.

Hormel Foods Profile

(Get Rating)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, 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.

Further Reading

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

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