Hormel Foods Corp (NYSE:HRL) Position Lifted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its position in shares of Hormel Foods Corp (NYSE:HRL) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,628 shares of the company’s stock after purchasing an additional 3,069 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Hormel Foods were worth $4,722,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Enlightenment Research LLC purchased a new stake in shares of Hormel Foods during the fourth quarter worth approximately $30,000. Acima Private Wealth LLC purchased a new stake in shares of Hormel Foods during the fourth quarter worth approximately $34,000. Bremer Trust National Association purchased a new stake in shares of Hormel Foods during the fourth quarter worth approximately $43,000. We Are One Seven LLC purchased a new stake in shares of Hormel Foods during the fourth quarter worth approximately $45,000. Finally, FTB Advisors Inc. increased its position in shares of Hormel Foods by 62.7% during the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock worth $48,000 after purchasing an additional 433 shares in the last quarter. 43.55% of the stock is owned by hedge funds and other institutional investors.

In other Hormel Foods news, insider Thomas R. Day sold 6,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $41.91, for a total value of $251,460.00. Following the sale, the insider now owns 5,031 shares of the company’s stock, valued at approximately $210,849.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lori J. Marco sold 13,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $41.56, for a total value of $540,280.00. Following the completion of the transaction, the vice president now owns 48,304 shares in the company, valued at approximately $2,007,514.24. The disclosure for this sale can be found here. Insiders sold a total of 274,705 shares of company stock worth $12,116,336 in the last ninety days. 1.11% of the stock is owned by corporate insiders.

Several analysts have issued reports on HRL shares. Jefferies Financial Group restated a “hold” rating and issued a $44.00 target price on shares of Hormel Foods in a report on Thursday, February 21st. Credit Suisse Group restated a “hold” rating and issued a $39.00 target price on shares of Hormel Foods in a report on Thursday, February 21st. Zacks Investment Research upgraded Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, February 28th. Stephens assumed coverage on Hormel Foods in a report on Monday, March 4th. They issued an “equal weight” rating for the company. Finally, ValuEngine lowered Hormel Foods from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $40.20.

HRL traded up $0.28 during mid-day trading on Friday, hitting $39.94. 1,888,757 shares of the stock were exchanged, compared to its average volume of 2,838,162. Hormel Foods Corp has a 1-year low of $34.12 and a 1-year high of $46.26. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The firm has a market cap of $21.02 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.60 and a beta of 0.19.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $0.56 EPS. Hormel Foods’s revenue was up 1.2% on a year-over-year basis. On average, research analysts forecast that Hormel Foods Corp will post 1.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio is currently 44.44%.

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Hormel Foods 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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