Axa S.A. boosted its stake in shares of Hormel Foods Co. (NYSE:HRL) by 229.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,998 shares of the company’s stock after buying an additional 87,086 shares during the quarter. Axa S.A.’s holdings in Hormel Foods were worth $5,969,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Hormel Foods by 1.1% in the second quarter. Vanguard Group Inc. now owns 33,845,809 shares of the company’s stock worth $1,616,137,000 after buying an additional 359,717 shares in the last quarter. Capital International Investors boosted its holdings in Hormel Foods by 2.1% during the 1st quarter. Capital International Investors now owns 10,328,865 shares of the company’s stock valued at $493,534,000 after acquiring an additional 217,231 shares during the period. Geode Capital Management LLC grew its holdings in Hormel Foods by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 5,157,426 shares of the company’s stock worth $245,743,000 after acquiring an additional 147,179 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Hormel Foods by 0.5% during the 2nd quarter. Principal Financial Group Inc. now owns 4,675,446 shares of the company’s stock valued at $223,252,000 after purchasing an additional 25,545 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Hormel Foods by 14.1% in the 2nd quarter. ProShare Advisors LLC now owns 2,859,607 shares of the company’s stock worth $136,546,000 after purchasing an additional 354,190 shares in the last quarter. Institutional investors own 40.48% of the company’s stock.
Hormel Foods stock opened at $42.36 on Thursday. The firm has a 50 day moving average price of $43.38 and a 200 day moving average price of $46.10. Hormel Foods Co. has a fifty-two week low of $40.48 and a fifty-two week high of $52.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 2.15. The company has a market capitalization of $22.98 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.40 and a beta of -0.07.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Monday, October 18th will be paid a $0.245 dividend. The ex-dividend date is Friday, October 15th. This represents a $0.98 annualized dividend and a yield of 2.31%. Hormel Foods’s dividend payout ratio is currently 59.04%.
A number of analysts have commented on the company. JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and set a $42.00 target price for the company in a report on Friday, October 8th. TheStreet lowered shares of Hormel Foods from a “b” rating to a “c+” rating in a report on Tuesday, September 7th. Barclays lowered their price target on Hormel Foods from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 3rd. Finally, Credit Suisse Group decreased their target price on Hormel Foods from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.20.
About Hormel Foods
Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market.
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