Teacher Retirement System of Texas boosted its stake in shares of Hormel Foods Corp (NYSE:HRL) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 232,293 shares of the company’s stock after purchasing an additional 21,168 shares during the period. Teacher Retirement System of Texas’ holdings in Hormel Foods were worth $9,914,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HRL. Enlightenment Research LLC purchased a new position in Hormel Foods during the fourth quarter valued at $30,000. Acima Private Wealth LLC purchased a new position in Hormel Foods during the fourth quarter valued at $34,000. Bremer Trust National Association purchased a new position in Hormel Foods during the fourth quarter valued at $43,000. We Are One Seven LLC purchased a new position in Hormel Foods during the fourth quarter valued at $45,000. Finally, FTB Advisors Inc. lifted its position in Hormel Foods by 62.7% during the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock valued at $48,000 after purchasing an additional 433 shares in the last quarter. Institutional investors own 43.46% of the company’s stock.
In other news, Director Elsa A. Murano sold 5,808 shares of Hormel Foods stock in a transaction dated Tuesday, January 8th. The stock was sold at an average price of $42.00, for a total value of $243,936.00. Following the sale, the director now directly owns 98,565 shares of the company’s stock, valued at $4,139,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gary Jamison sold 8,000 shares of Hormel Foods stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $44.37, for a total value of $354,960.00. Following the completion of the sale, the vice president now directly owns 15,991 shares in the company, valued at $709,520.67. The disclosure for this sale can be found here. Insiders sold 61,955 shares of company stock worth $2,702,157 over the last ninety days. Insiders own 1.11% of the company’s stock.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, February 21st. The company reported $0.44 EPS for the quarter, meeting 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 business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Hormel Foods Corp will post 1.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.21 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. Hormel Foods’s dividend payout ratio (DPR) is 44.44%.
HRL has been the topic of several research analyst reports. Zacks Investment Research upgraded Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Thursday, February 28th. Stephens initiated coverage on Hormel Foods in a research report on Monday, March 4th. They issued an “equal weight” rating on the stock. Credit Suisse Group restated a “hold” rating and issued a $39.00 price objective on shares of Hormel Foods in a research report on Thursday, February 21st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $44.00 price objective on shares of Hormel Foods in a research report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus target price of $41.33.
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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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