Hormel Foods Corp (NYSE:HRL) Stock Position Cut by Fiera Capital Corp

Fiera Capital Corp decreased its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 21.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,842 shares of the company’s stock after selling 13,973 shares during the period. Fiera Capital Corp’s holdings in Hormel Foods were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of HRL. Janney Montgomery Scott LLC boosted its position in shares of Hormel Foods by 6.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 89,418 shares of the company’s stock valued at $4,034,000 after purchasing an additional 5,098 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of Hormel Foods by 16.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 14,736 shares of the company’s stock valued at $665,000 after purchasing an additional 2,052 shares in the last quarter. First Midwest Bank Trust Division boosted its position in shares of Hormel Foods by 7.9% during the 4th quarter. First Midwest Bank Trust Division now owns 11,073 shares of the company’s stock valued at $499,000 after purchasing an additional 806 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Hormel Foods by 3.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,739 shares of the company’s stock valued at $1,115,000 after purchasing an additional 916 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Hormel Foods by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 67,220 shares of the company’s stock valued at $3,032,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 44.18% of the company’s stock.

HRL has been the subject of several research reports. Goldman Sachs Group upgraded shares of Hormel Foods from a “sell” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $45.00 in a research report on Thursday, March 26th. Cfra upped their price objective on shares of Hormel Foods from $38.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday. Piper Sandler lowered shares of Hormel Foods from an “overweight” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Tuesday, April 28th. Finally, Barclays upped their price objective on shares of Hormel Foods from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.60.

NYSE HRL opened at $46.93 on Friday. The company has a 50 day simple moving average of $47.78 and a 200-day simple moving average of $45.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.70 and a quick ratio of 1.31. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 4.32 and a beta of -0.06. Hormel Foods Corp has a 52-week low of $37.00 and a 52-week high of $51.53.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Hormel Foods had a return on equity of 15.38% and a net margin of 9.64%. Hormel Foods’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, analysts predict that Hormel Foods Corp will post 1.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be given a $0.2325 dividend. This represents a $0.93 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, July 10th. Hormel Foods’s dividend payout ratio (DPR) is 53.45%.

In other news, EVP Thomas R. Day sold 46,213 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $49.02, for a total value of $2,265,361.26. Following the completion of the sale, the executive vice president now directly owns 79,010 shares of the company’s stock, valued at $3,873,070.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas R. Day sold 13,787 shares of the stock in a transaction that occurred on Friday, April 3rd. The stock was sold at an average price of $48.50, for a total transaction of $668,669.50. Following the completion of the sale, the executive vice president now directly owns 46,643 shares of the company’s stock, valued at $2,262,185.50. The disclosure for this sale can be found here. Insiders sold 111,380 shares of company stock valued at $5,391,665 over the last three months. 1.15% of the stock is owned by insiders.

Hormel Foods Company Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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