ING Groep NV Has $1.27 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

ING Groep NV raised its stake in Hormel Foods Co. (NYSE:HRL) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,652 shares of the company’s stock after acquiring an additional 3,305 shares during the quarter. ING Groep NV’s holdings in Hormel Foods were worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PAX Financial Group LLC increased its position in Hormel Foods by 2.7% in the 3rd quarter. PAX Financial Group LLC now owns 13,304 shares of the company’s stock valued at $506,000 after acquiring an additional 354 shares in the last quarter. Huntington National Bank boosted its stake in shares of Hormel Foods by 10.3% in the 3rd quarter. Huntington National Bank now owns 3,801 shares of the company’s stock valued at $145,000 after purchasing an additional 355 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Hormel Foods by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after purchasing an additional 361 shares during the last quarter. Insight Folios Inc boosted its stake in shares of Hormel Foods by 6.5% in the 4th quarter. Insight Folios Inc now owns 7,013 shares of the company’s stock valued at $225,000 after purchasing an additional 429 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its stake in shares of Hormel Foods by 7.3% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 6,343 shares of the company’s stock valued at $241,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $36.43 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.79 and a current ratio of 1.49. The company has a market capitalization of $19.95 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 3.55 and a beta of 0.28. The company’s 50 day moving average price is $34.99 and its two-hundred day moving average price is $32.78. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $41.73.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. On average, analysts expect that Hormel Foods Co. will post 1.59 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.10%. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

Insider Activity

In other news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,325,231.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Mark A. Coffey sold 15,400 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the transaction, the vice president now directly owns 68,029 shares in the company, valued at $2,325,231.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the transaction, the senior vice president now owns 38,708 shares in the company, valued at $1,352,844.60. The disclosure for this sale can be found here. Insiders have sold 40,800 shares of company stock worth $1,414,872 over the last ninety days. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Citigroup began coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, Hormel Foods has an average rating of “Hold” and a consensus target price of $31.00.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.