Bristol Gate Capital Partners Inc. boosted its position in Hormel Foods Corp. (NYSE:HRL) by 38.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 783,965 shares of the company’s stock after buying an additional 215,986 shares during the period. Hormel Foods Corp. comprises approximately 5.1% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 3rd largest position. Bristol Gate Capital Partners Inc. owned approximately 0.15% of Hormel Foods Corp. worth $28,693,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Checchi Capital Advisers LLC raised its position in shares of Hormel Foods Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,762 shares of the company’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Hormel Foods Corp. by 0.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,845 shares of the company’s stock worth $1,019,000 after buying an additional 221 shares in the last quarter. Sigma Planning Corp raised its position in shares of Hormel Foods Corp. by 6.5% in the second quarter. Sigma Planning Corp now owns 6,094 shares of the company’s stock worth $223,000 after buying an additional 373 shares in the last quarter. IBM Retirement Fund raised its position in shares of Hormel Foods Corp. by 1.2% in the second quarter. IBM Retirement Fund now owns 32,086 shares of the company’s stock worth $1,226,000 after buying an additional 385 shares in the last quarter. Finally, Conning Inc. raised its position in shares of Hormel Foods Corp. by 5.1% in the second quarter. Conning Inc. now owns 8,510 shares of the company’s stock worth $311,000 after buying an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 34.10% of the company’s stock.

Institutional Ownership by Quarter for Hormel Foods Corp. (NYSE:HRL)

Hormel Foods Corp. (NYSE:HRL) traded up 0.55% on Tuesday, reaching $38.27. 1,360,731 shares of the company’s stock traded hands. The firm’s 50-day moving average is $37.55 and its 200 day moving average is $37.30. The stock has a market capitalization of $20.25 billion, a PE ratio of 24.85 and a beta of 0.57. Hormel Foods Corp. has a 52-week low of $32.82 and a 52-week high of $45.72.

Hormel Foods Corp. (NYSE:HRL) last posted its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business posted $0.28 EPS. Hormel Foods Corp.’s revenue was up 5.2% compared to the same quarter last year. Analysts forecast that Hormel Foods Corp. will post $1.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a $0.145 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $0.58 dividend on an annualized basis and a yield of 1.52%. Hormel Foods Corp.’s payout ratio is presently 37.79%.

A number of brokerages have commented on HRL. Jefferies Group reiterated a “hold” rating on shares of Hormel Foods Corp. in a report on Wednesday, August 3rd. Vetr lowered shares of Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price on the stock. in a research note on Monday, October 10th. Deutsche Bank AG restated a “hold” rating and issued a $38.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Zacks Investment Research upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, August 23rd. Finally, Edward Jones upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.10.

In related news, insider Steven G. Binder sold 12,000 shares of the firm’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $37.98, for a total value of $455,760.00. Following the transaction, the insider now directly owns 41,622 shares in the company, valued at approximately $1,580,803.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian Dean Johnson sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $38.00, for a total transaction of $133,000.00. Following the completion of the transaction, the vice president now owns 26,119 shares in the company, valued at $992,522. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by corporate insiders.

Hormel Foods Corp. Company Profile

5 Day Chart for NYSE:HRL

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