Great West Life Assurance Co. Can Grows Stake in Hormel Foods Corp (HRL)

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Great West Life Assurance Co. Can lifted its position in shares of Hormel Foods Corp (NYSE:HRL) by 5.7% during the 1st quarter, Holdings Channel reports. The firm owned 609,632 shares of the company’s stock after buying an additional 32,621 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Hormel Foods were worth $27,204,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Enlightenment Research LLC bought a new stake in shares of Hormel Foods during the fourth quarter worth about $30,000. Acima Private Wealth LLC bought a new stake in shares of Hormel Foods during the fourth quarter worth about $34,000. Bremer Trust National Association bought a new stake in shares of Hormel Foods during the fourth quarter worth about $43,000. We Are One Seven LLC bought a new stake in shares of Hormel Foods during the fourth quarter worth about $45,000. Finally, FTB Advisors Inc. lifted its stake in shares of Hormel Foods by 62.7% in the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares during the period. Institutional investors own 44.29% of the company’s stock.

HRL has been the topic of a number of recent analyst reports. ValuEngine lowered Hormel Foods from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. JPMorgan Chase & Co. lowered Hormel Foods from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $40.00 to $36.00 in a research note on Tuesday, April 23rd. Zacks Investment Research downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Credit Suisse Group reiterated a “hold” rating and set a $39.00 price target on shares of Hormel Foods in a report on Thursday, February 21st. Finally, Stephens began coverage on Hormel Foods in a report on Monday, March 4th. They set an “equal weight” rating for the company. 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 stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $40.30.

Shares of NYSE:HRL opened at $40.27 on Friday. The firm has a market capitalization of $21.57 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.93 and a beta of 0.12. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. Hormel Foods Corp has a 1 year low of $35.12 and a 1 year high of $46.26.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.37 billion. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, equities analysts forecast that Hormel Foods Corp will post 1.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.21 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.09%. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.

In other Hormel Foods news, Chairman James P. Snee sold 27,752 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $43.49, for a total value of $1,206,934.48. Following the completion of the transaction, the chairman now owns 75,464 shares in the company, valued at approximately $3,281,929.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lori J. Marco sold 13,000 shares of the company’s 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 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 valued at $12,116,336 in the last 90 days. Corporate insiders own 1.11% of the company’s stock.

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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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