Korea Investment CORP reduced its stake in shares of Hormel Foods Corp (NYSE:HRL) by 61.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,818 shares of the company’s stock after selling 71,226 shares during the period. Korea Investment CORP’s holdings in Hormel Foods Corp were worth $1,517,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. purchased a new position in Hormel Foods Corp during the fourth quarter valued at approximately $125,000. Van ECK Associates Corp increased its position in Hormel Foods Corp by 9.4% in the fourth quarter. Van ECK Associates Corp now owns 4,092 shares of the company’s stock valued at $142,000 after buying an additional 352 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in Hormel Foods Corp during the fourth quarter valued at approximately $163,000. Gulf International Bank UK Ltd increased its position in Hormel Foods Corp by 27.5% in the first quarter. Gulf International Bank UK Ltd now owns 6,026 shares of the company’s stock valued at $208,000 after buying an additional 1,300 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in Hormel Foods Corp by 61.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 5,500 shares of the company’s stock valued at $209,000 after buying an additional 2,100 shares during the last quarter. 33.52% of the stock is currently owned by institutional investors.

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

Shares of Hormel Foods Corp (NYSE:HRL) traded up 0.88% during midday trading on Friday, hitting $34.45. The company’s stock had a trading volume of 498,581 shares. Hormel Foods Corp has a 52-week low of $33.18 and a 52-week high of $40.00. The firm has a market cap of $18.22 billion, a P/E ratio of 20.88 and a beta of 0.49. The stock’s 50 day moving average is $34.55 and its 200-day moving average is $35.29.

Hormel Foods Corp (NYSE:HRL) last posted its earnings results on Thursday, February 23rd. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Hormel Foods Corp had a net margin of 9.35% and a return on equity of 20.56%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Equities analysts predict that Hormel Foods Corp will post $1.67 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Tuesday, April 18th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $0.68 annualized dividend and a yield of 1.99%. Hormel Foods Corp’s payout ratio is 41.46%.

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A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Hormel Foods Corp from a “hold” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, February 14th. Credit Suisse Group AG set a $41.00 price target on Hormel Foods Corp and gave the stock a “buy” rating in a research report on Saturday, February 25th. Finally, BMO Capital Markets reissued a “buy” rating and set a $45.00 price target on shares of Hormel Foods Corp in a research report on Thursday, March 30th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Hormel Foods Corp has a consensus rating of “Buy” and an average target price of $40.75.

In other Hormel Foods Corp news, insider Donald H. Kremin sold 27,852 shares of Hormel Foods Corp stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $34.66, for a total value of $965,350.32. Following the completion of the transaction, the insider now directly owns 112,746 shares of the company’s stock, valued at approximately $3,907,776.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elsa A. Murano sold 7,500 shares of Hormel Foods Corp stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $34.50, for a total transaction of $258,750.00. Following the completion of the transaction, the director now directly owns 74,991 shares of the company’s stock, valued at $2,587,189.50. The disclosure for this sale can be found here. Insiders have sold 85,787 shares of company stock valued at $2,955,553 over the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Hormel Foods Corp Company Profile

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