Hormel Foods Corporation $HRL Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in Hormel Foods Corporation (NYSE:HRL) by 27.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 316,885 shares of the company’s stock after acquiring an additional 68,354 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Hormel Foods were worth $7,177,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. boosted its position in shares of Hormel Foods by 66.5% during the 3rd quarter. Invesco Ltd. now owns 11,331,941 shares of the company’s stock worth $280,352,000 after purchasing an additional 4,526,167 shares in the last quarter. Norges Bank purchased a new position in shares of Hormel Foods in the 4th quarter valued at about $85,840,000. Freestone Grove Partners LP purchased a new position in shares of Hormel Foods in the 4th quarter valued at about $43,340,000. Two Sigma Investments LP lifted its stake in shares of Hormel Foods by 126.2% in the third quarter. Two Sigma Investments LP now owns 3,174,553 shares of the company’s stock valued at $78,538,000 after purchasing an additional 1,770,852 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Hormel Foods by 189.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,414,341 shares of the company’s stock worth $57,220,000 after buying an additional 1,581,046 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

Hormel Foods stock opened at $25.00 on Friday. Hormel Foods Corporation has a 52 week low of $19.70 and a 52 week high of $31.86. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $22.76 and its 200 day simple moving average is $23.22. The firm has a market capitalization of $13.76 billion, a PE ratio of 29.41, a P/E/G ratio of 2.87 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. On average, equities research analysts predict that Hormel Foods Corporation will post 1.5 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s dividend payout ratio (DPR) is 137.65%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HRL. The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Bank of America boosted their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $23.00 price target (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Finally, Stephens raised their price objective on Hormel Foods from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.00.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.