Hormel Foods Corporation $HRL Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in Hormel Foods Corporation (NYSE:HRL) by 167.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 538,072 shares of the company’s stock after purchasing an additional 336,634 shares during the quarter. SG Americas Securities LLC’s holdings in Hormel Foods were worth $12,187,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. GoalVest Advisory LLC acquired a new stake in shares of Hormel Foods during the 4th quarter worth $25,000. MUFG Securities EMEA plc purchased a new position in shares of Hormel Foods in the 2nd quarter worth about $26,000. Strive Financial Group LLC purchased a new position in shares of Hormel Foods in the 4th quarter worth about $27,000. Motiv8 Investments LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at about $28,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Hormel Foods by 354.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock valued at $31,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Up 1.8%

NYSE:HRL opened at $26.50 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.35. Hormel Foods Corporation has a one year low of $19.70 and a one year high of $31.86. The stock has a 50-day simple moving average of $22.36 and a 200 day simple moving average of $23.17.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Hormel Foods’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts predict that Hormel Foods Corporation will post 1.5 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s dividend payout ratio is currently 137.65%.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Stephens boosted their price target on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Bank of America increased their target price on Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.67.

Hormel Foods Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.