Dimensional Fund Advisors LP Purchases 200,661 Shares of Hormel Foods Corporation (NYSE:HRL)
Dimensional Fund Advisors LP boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 17.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,336,211 shares of the company’s stock after buying an additional 200,661 shares during the period. Dimensional Fund Advisors LP owned approximately 0.25% of Hormel Foods Corporation worth $46,270,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HRL. Geode Capital Management LLC increased its position in Hormel Foods Corporation by 7.0% in the first quarter. Geode Capital Management LLC now owns 2,874,523 shares of the company’s stock worth $99,413,000 after buying an additional 187,886 shares in the last quarter. Azimuth Capital Management LLC increased its position in Hormel Foods Corporation by 2.9% in the first quarter. Azimuth Capital Management LLC now owns 88,789 shares of the company’s stock worth $3,075,000 after buying an additional 2,540 shares in the last quarter. Vanguard Group Inc. increased its position in Hormel Foods Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after buying an additional 1,608,528 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Hormel Foods Corporation by 7.1% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,218 shares of the company’s stock worth $562,000 after buying an additional 1,070 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Hormel Foods Corporation during the first quarter worth $8,347,000. 38.13% of the stock is currently owned by institutional investors.
Shares of Hormel Foods Corporation (HRL) opened at 32.83 on Wednesday. The stock has a market cap of $17.35 billion, a PE ratio of 20.02 and a beta of 0.56. Hormel Foods Corporation has a 12 month low of $32.26 and a 12 month high of $40.00. The firm has a 50-day moving average price of $33.90 and a 200-day moving average price of $34.90.
Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Equities analysts forecast that Hormel Foods Corporation will post $1.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.68 dividend on an annualized basis and a yield of 2.07%. Hormel Foods Corporation’s payout ratio is 41.46%.
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A number of research firms have weighed in on HRL. BidaskClub downgraded Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 30th. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 16th. Mizuho began coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Hormel Foods Corporation presently has a consensus rating of “Hold” and an average price target of $40.27.
In other Hormel Foods Corporation news, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the completion of the sale, the insider now directly owns 22,532 shares in the company, valued at approximately $784,338.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total value of $372,376.77. Following the sale, the insider now owns 24,838 shares of the company’s stock, valued at $830,334.34. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.
Hormel Foods Corporation Company Profile
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