Hormel Foods Co. (NYSE:HRL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Hormel Foods Co. (NYSE:HRLGet Rating) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,967 shares of the company’s stock after purchasing an additional 34,034 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Hormel Foods worth $19,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors grew its stake in Hormel Foods by 21.8% in the 4th quarter. Capital International Investors now owns 13,780,558 shares of the company’s stock valued at $672,613,000 after acquiring an additional 2,463,310 shares during the period. State Street Corp grew its stake in Hormel Foods by 3.8% in the 4th quarter. State Street Corp now owns 29,141,779 shares of the company’s stock valued at $1,422,410,000 after acquiring an additional 1,079,695 shares during the period. BlackRock Inc. grew its stake in Hormel Foods by 2.0% in the 4th quarter. BlackRock Inc. now owns 28,688,282 shares of the company’s stock valued at $1,400,275,000 after acquiring an additional 558,537 shares during the period. ProShare Advisors LLC grew its stake in Hormel Foods by 17.4% in the 4th quarter. ProShare Advisors LLC now owns 3,568,628 shares of the company’s stock valued at $174,185,000 after acquiring an additional 528,422 shares during the period. Finally, Gateway Investment Advisers LLC grew its stake in Hormel Foods by 6,951.9% in the 1st quarter. Gateway Investment Advisers LLC now owns 300,764 shares of the company’s stock valued at $15,501,000 after acquiring an additional 296,499 shares during the period. Institutional investors and hedge funds own 41.06% of the company’s stock.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, Director Christopher J. Policinski sold 2,110 shares of Hormel Foods stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total value of $97,629.70. Following the completion of the transaction, the director now directly owns 85,254 shares of the company’s stock, valued at approximately $3,944,702.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Hormel Foods news, Director Christopher J. Policinski sold 2,110 shares of Hormel Foods stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total value of $97,629.70. Following the completion of the transaction, the director now directly owns 85,254 shares of the company’s stock, valued at approximately $3,944,702.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin L. Myers sold 5,000 shares of Hormel Foods stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $45.07, for a total value of $225,350.00. Following the completion of the transaction, the senior vice president now directly owns 32,869 shares of the company’s stock, valued at $1,481,405.83. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Credit Suisse Group decreased their price objective on Hormel Foods to $44.00 in a report on Friday, June 3rd. Piper Sandler decreased their price objective on Hormel Foods to $48.00 in a report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $47.83.

Hormel Foods Stock Down 0.9 %

Shares of NYSE:HRL opened at $48.93 on Friday. The business has a 50-day moving average price of $47.22 and a 200 day moving average price of $49.19. The company has a current ratio of 2.28, a quick ratio of 1.20 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $26.72 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 3.39 and a beta of 0.13. Hormel Foods Co. has a 12-month low of $40.48 and a 12-month high of $55.11.

Hormel Foods (NYSE:HRLGet Rating) last issued its quarterly earnings data on Thursday, June 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.07 billion. Hormel Foods had a return on equity of 14.10% and a net margin of 7.70%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Sell-side analysts expect that Hormel Foods Co. will post 1.87 EPS for the current year.

Hormel Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, July 11th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, July 8th. Hormel Foods’s dividend payout ratio is currently 59.43%.

About Hormel Foods

(Get Rating)

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.

Read More

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

Want More Great Investing Ideas?

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.