77,037 Shares in Hormel Foods Corp (HRL) Purchased by Northpointe Capital LLC

Northpointe Capital LLC purchased a new position in shares of Hormel Foods Corp (NYSE:HRL) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 77,037 shares of the company’s stock, valued at approximately $3,448,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Martingale Asset Management L P increased its holdings in shares of Hormel Foods by 45.9% during the 3rd quarter. Martingale Asset Management L P now owns 256,598 shares of the company’s stock valued at $10,111,000 after acquiring an additional 80,702 shares during the last quarter. FMR LLC increased its holdings in shares of Hormel Foods by 2.7% during the 3rd quarter. FMR LLC now owns 46,834 shares of the company’s stock valued at $1,845,000 after acquiring an additional 1,250 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hormel Foods by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,916,693 shares of the company’s stock valued at $75,511,000 after acquiring an additional 14,099 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Hormel Foods by 72.7% during the 3rd quarter. Franklin Resources Inc. now owns 37,056 shares of the company’s stock valued at $1,460,000 after acquiring an additional 15,601 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Hormel Foods by 34.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,311,256 shares of the company’s stock valued at $51,664,000 after buying an additional 332,384 shares during the last quarter. 43.49% of the stock is owned by institutional investors.

HRL has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $44.00 target price on shares of Hormel Foods in a research note on Thursday, February 21st. Zacks Investment Research downgraded Hormel Foods from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Stephens initiated coverage on Hormel Foods in a research report on Monday, March 4th. They set an “equal weight” rating on the stock. Credit Suisse Group reissued a “hold” rating and set a $39.00 price target on shares of Hormel Foods in a research report on Thursday, February 21st. Finally, ValuEngine downgraded Hormel Foods from a “buy” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $41.33.

NYSE:HRL traded down $0.69 during trading hours on Wednesday, reaching $40.09. 80,654 shares of the company were exchanged, compared to its average volume of 2,386,509. The company has a market capitalization of $21.73 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.71 and a beta of 0.19. Hormel Foods Corp has a 1-year low of $34.12 and a 1-year high of $46.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.77.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.40 billion. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. On average, sell-side analysts anticipate that Hormel Foods Corp will post 1.82 EPS for the current fiscal year.

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

In other news, Director Glenn S. Forbes sold 4,695 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $43.00, for a total value of $201,885.00. Following the completion of the transaction, the director now directly owns 49,481 shares in the company, valued at approximately $2,127,683. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lori J. Marco sold 13,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,007,514.24. The disclosure for this sale can be found here. Insiders sold a total of 274,705 shares of company stock valued at $12,116,336 over the last quarter. 1.11% of the stock is owned by corporate insiders.

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About Hormel Foods

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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