Bank of Hawaii Has $466,000 Holdings in Hormel Foods Corporation (HRL)
Bank of Hawaii continued to hold its stake in shares of Hormel Foods Corporation (NYSE:HRL) during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,668 shares of the company’s stock at the end of the 2nd quarter. Bank of Hawaii’s holdings in Hormel Foods Corporation were worth $466,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in HRL. Acrospire Investment Management LLC acquired a new stake in shares of Hormel Foods Corporation in the second quarter valued at $111,000. Canada Pension Plan Investment Board lifted its holdings 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 period. SRS Capital Advisors Inc. lifted its holdings 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 period. Van ECK Associates Corp lifted its holdings 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 period. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Hormel Foods Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 38.95% of the company’s stock.
Shares of Hormel Foods Corporation (NYSE HRL) traded up 0.38% during midday trading on Thursday, hitting $31.45. The stock had a trading volume of 182,852 shares. Hormel Foods Corporation has a one year low of $30.50 and a one year high of $38.84. The firm has a market capitalization of $16.60 billion, a PE ratio of 19.41 and a beta of 0.58. The firm’s 50-day moving average price is $32.60 and its 200-day moving average price is $33.86.
Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts predict that Hormel Foods Corporation will post $1.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.68 annualized dividend and a dividend yield of 2.17%. Hormel Foods Corporation’s dividend payout ratio is currently 41.98%.
In other news, Director Dakota A. Pippins sold 4,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $31.60, for a total value of $126,400.00. Following the transaction, the director now directly owns 92,377 shares in the company, valued at approximately $2,919,113.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven G. Binder sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $32.00, for a total value of $480,000.00. Following the completion of the transaction, the insider now owns 26,838 shares in the company, valued at $858,816. The disclosure for this sale can be found here. Insiders sold a total of 180,843 shares of company stock worth $5,715,409 over the last 90 days. 3.54% of the stock is owned by corporate insiders.
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Several analysts have recently weighed in on the company. BidaskClub lowered Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Barclays PLC initiated coverage on Hormel Foods Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a report on Monday, June 12th. Buckingham Research reduced their target price on Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, August 25th. Finally, Zacks Investment Research downgraded Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 21st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Hormel Foods Corporation presently has an average rating of “Hold” and a consensus target price of $38.30.
About Hormel Foods Corporation
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