Sei Investments Co. Has $2.05 Million Position in Hormel Foods Corporation $HRL

Sei Investments Co. boosted its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 107.6% in the first quarter, Holdings Channel reports. The firm owned 90,596 shares of the company’s stock after acquiring an additional 46,957 shares during the period. Sei Investments Co.’s holdings in Hormel Foods were worth $2,052,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HRL shares. Stephens restated an “equal weight” rating and set a $25.00 price target on shares of Hormel Foods in a report on Thursday, July 9th. BNP Paribas Exane lifted their price objective on Hormel Foods from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Friday, July 17th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research note on Thursday, May 21st. Finally, Bank of America raised their target price on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.14.

Hormel Foods Stock Up 0.1%

NYSE HRL opened at $25.04 on Monday. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $24.81 and its two-hundred day moving average is $23.46. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 2.88 and a beta of 0.34. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $29.34.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.Hormel Foods’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. Equities analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be paid 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 dividend payout ratio is currently 137.65%.

Insider Transactions at Hormel Foods

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of Hormel Foods stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the completion of the transaction, the director directly owned 32,002 shares of the company’s stock, valued at approximately $784,369.02. This trade represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is owned by corporate insiders.

Hormel Foods Company 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.