Profund Advisors LLC Increases Stake in Hormel Foods Corporation (HRL)

Profund Advisors LLC grew its position in shares of Hormel Foods Corporation (NYSE:HRL) by 21.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,601 shares of the company’s stock after buying an additional 1,367 shares during the quarter. Profund Advisors LLC’s holdings in Hormel Foods Corporation were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in HRL. Van ECK Associates Corp lifted its holdings in shares of Hormel Foods Corporation by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after buying an additional 295 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Hormel Foods Corporation by 0.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after buying an additional 19 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Hormel Foods Corporation during the 2nd quarter valued at about $189,000. Pacer Advisors Inc. lifted its holdings in shares of Hormel Foods Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock valued at $194,000 after buying an additional 176 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Hormel Foods Corporation during the 2nd quarter valued at about $203,000. Institutional investors and hedge funds own 38.95% of the company’s stock.

Several brokerages have recently issued reports on HRL. Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 16th. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 30th. BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research lowered Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 21st. Finally, Barclays PLC reduced their price target on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Hormel Foods Corporation currently has a consensus rating of “Hold” and an average target price of $37.00.

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Shares of Hormel Foods Corporation (HRL) opened at 31.72 on Thursday. Hormel Foods Corporation has a 12-month low of $30.50 and a 12-month high of $38.84. The company has a 50-day moving average price of $31.50 and a 200 day moving average price of $33.49. The firm has a market capitalization of $16.74 billion, a price-to-earnings ratio of 19.58 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts expect that Hormel Foods Corporation will post $1.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a dividend of $0.17 per share. The ex-dividend date is Friday, October 20th. This represents a $0.68 annualized dividend and a yield of 2.14%. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.98%.

In other news, insider Steven G. Binder sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total value of $468,450.00. Following the completion of the sale, the insider now directly owns 26,838 shares of the company’s stock, valued at $838,150.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at $1,852,200. The disclosure for this sale can be found here. Insiders have sold 169,704 shares of company stock valued at $5,343,032 over the last three months. Insiders own 3.54% of the company’s stock.

Hormel Foods Corporation Profile

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

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