Teacher Retirement System of Texas decreased its position in Hormel Foods Co. (NYSE:HRL – Free Report) by 32.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,729 shares of the company’s stock after selling 10,683 shares during the quarter. Teacher Retirement System of Texas’ holdings in Hormel Foods were worth $914,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in Hormel Foods by 112.6% in the second quarter. Pacer Advisors Inc. now owns 39,021 shares of the company’s stock valued at $1,569,000 after acquiring an additional 20,664 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Hormel Foods by 16.6% during the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 17,896 shares of the company’s stock valued at $714,000 after buying an additional 2,543 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hormel Foods by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,288,934 shares of the company’s stock valued at $210,923,000 after buying an additional 20,418 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Hormel Foods during the 1st quarter valued at approximately $500,000. Finally, Live Oak Investment Partners purchased a new position in shares of Hormel Foods during the 4th quarter valued at approximately $730,000. Institutional investors and hedge funds own 41.15% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on Hormel Foods in a research note on Thursday, October 5th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.71.
Insider Activity
In other news, SVP Pierre M. Lilly bought 1,454 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average cost of $37.25 per share, with a total value of $54,161.50. Following the completion of the acquisition, the senior vice president now directly owns 1,454 shares in the company, valued at $54,161.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company’s stock.
Hormel Foods Stock Performance
Shares of HRL opened at $36.05 on Tuesday. Hormel Foods Co. has a 12-month low of $35.41 and a 12-month high of $49.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 0.65. The business’s fifty day moving average price is $38.88 and its 200 day moving average price is $39.62. The stock has a market capitalization of $19.70 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 3.85 and a beta of 0.20.
Hormel Foods (NYSE:HRL – Get Free Report) last issued its earnings results on Thursday, August 31st. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.04 billion. Hormel Foods had a return on equity of 12.20% and a net margin of 7.20%. Hormel Foods’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 earnings per share. Equities research analysts forecast that Hormel Foods Co. will post 1.64 EPS for the current year.
Hormel Foods Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 16th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, October 13th. Hormel Foods’s dividend payout ratio (DPR) is 68.32%.
Hormel Foods Profile
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.
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