Landscape Capital Management L.L.C. Purchases 59,989 Shares of Hormel Foods Corporation $HRL

Landscape Capital Management L.L.C. raised its position in Hormel Foods Corporation (NYSE:HRL) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,180 shares of the company’s stock after buying an additional 59,989 shares during the quarter. Landscape Capital Management L.L.C. owned about 0.06% of Hormel Foods worth $7,730,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HRL. Caxton Associates LLP bought a new stake in shares of Hormel Foods in the first quarter valued at $310,000. Empowered Funds LLC grew its position in shares of Hormel Foods by 1.8% in the first quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock valued at $1,779,000 after purchasing an additional 993 shares in the last quarter. Woodline Partners LP grew its position in shares of Hormel Foods by 40.8% in the first quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock valued at $761,000 after purchasing an additional 7,129 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Hormel Foods by 214.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock valued at $143,000 after purchasing an additional 3,226 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Hormel Foods by 76.5% in the second quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock valued at $3,134,000 after purchasing an additional 44,906 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Price Performance

Hormel Foods stock opened at $24.78 on Friday. Hormel Foods Corporation has a 52 week low of $19.70 and a 52 week high of $31.86. The business has a 50-day simple moving average of $21.65 and a 200 day simple moving average of $23.07. 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 stock has a market cap of $13.63 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.85 and a beta of 0.35.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that Hormel Foods Corporation will post 1.5 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 17th. Investors of record on Monday, July 13th will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, July 13th. Hormel Foods’s payout ratio is presently 137.65%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HRL shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Bank of America lifted their price target on Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Stephens lifted their price target on Hormel Foods from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $23.00 price target (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.67.

Hormel Foods Profile

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.