State of Wisconsin Investment Board decreased its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 892,889 shares of the company’s stock after selling 13,600 shares during the period. State of Wisconsin Investment Board’s holdings in Hormel Foods Corporation were worth $30,456,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board raised its position in shares of Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after buying an additional 2,664 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock valued at $148,000 after buying an additional 718 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after buying an additional 295 shares during the last quarter. Independence Advisors LLC acquired a new position in shares of Hormel Foods Corporation during the second quarter valued at about $289,000. Finally, Pacer Advisors Inc. raised its position in shares of Hormel Foods Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock valued at $194,000 after buying an additional 176 shares during the last quarter. 38.40% of the stock is currently owned by institutional investors.

Shares of Hormel Foods Corporation (NYSE HRL) opened at 34.35 on Thursday. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 20.95 and a beta of 0.56. The stock’s 50 day moving average is $33.62 and its 200-day moving average is $34.60. Hormel Foods Corporation has a one year low of $32.26 and a one year high of $40.00.

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. Hormel Foods Corporation had a return on equity of 19.57% and a net margin of 9.42%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts predict that Hormel Foods Corporation will post $1.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 17th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, July 13th. Hormel Foods Corporation’s payout ratio is currently 41.46%.

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Several brokerages recently issued reports on HRL. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Barclays PLC began coverage on shares of Hormel Foods Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and set a $34.00 price objective on shares of Hormel Foods Corporation in a report on Monday, June 12th. Zacks Investment Research lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday. Finally, Mizuho assumed coverage on shares of Hormel Foods Corporation in a report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Hormel Foods Corporation presently has a consensus rating of “Buy” and a consensus target price of $40.50.

In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the transaction, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luis G. Marconi sold 1,300 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 22,532 shares in the company, valued at $784,338.92. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.

About Hormel Foods Corporation

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

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