Creative Financial Designs Inc. ADV Has $1.69 Million Stock Holdings in Hormel Foods Corporation (NYSE:HRL)

Creative Financial Designs Inc. ADV raised its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,698 shares of the company’s stock after purchasing an additional 3,256 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Hormel Foods were worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Hormel Foods by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company’s stock worth $1,168,257,000 after buying an additional 268,328 shares during the period. Invesco Ltd. raised its stake in Hormel Foods by 7.3% during the fourth quarter. Invesco Ltd. now owns 7,843,207 shares of the company’s stock worth $246,041,000 after acquiring an additional 533,657 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hormel Foods by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,461,100 shares of the company’s stock valued at $233,459,000 after acquiring an additional 98,442 shares during the period. ProShare Advisors LLC boosted its stake in shares of Hormel Foods by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 6,072,682 shares of the company’s stock valued at $190,500,000 after purchasing an additional 413,669 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Hormel Foods by 6.2% in the 4th quarter. Millennium Management LLC now owns 4,488,678 shares of the company’s stock valued at $140,810,000 after purchasing an additional 261,742 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Price Performance

HRL opened at $30.26 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.17. The stock has a market capitalization of $16.64 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 3.38 and a beta of 0.33. The company’s 50 day simple moving average is $30.11 and its 200-day simple moving average is $30.17. Hormel Foods Corporation has a one year low of $27.59 and a one year high of $33.80.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.92 billion. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Sell-side analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Monday, July 14th. Hormel Foods’s dividend payout ratio (DPR) is presently 85.29%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BNP Paribas upgraded shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 27th. Bank of America upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $29.00 to $35.00 in a research note on Tuesday, April 15th. BNP Paribas Exane raised Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 target price on the stock in a report on Tuesday, May 27th. Stephens reaffirmed an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group initiated coverage on Hormel Foods in a research report on Monday. They issued a “buy” rating and a $35.00 price objective for the company. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Hormel Foods currently has an average rating of “Moderate Buy” and a consensus price target of $32.86.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.