Fmr LLC grew its position in shares of Hormel Foods Corporation (NYSE:HRL) by 49.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,038 shares of the company’s stock after purchasing an additional 81,812 shares during the period. Fmr LLC’s holdings in Hormel Foods Corporation were worth $8,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of HRL. Acrospire Investment Management LLC purchased a new stake in shares of Hormel Foods Corporation during the second quarter valued at approximately $111,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Hormel Foods Corporation by 0.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after purchasing an additional 19 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Hormel Foods Corporation during the second quarter valued at approximately $189,000. Ridgewood Investments LLC purchased a new stake in shares of Hormel Foods Corporation during the second quarter valued at approximately $203,000. Finally, Pacer Advisors Inc. raised its stake in shares of Hormel Foods Corporation by 8.3% during the second quarter. Pacer Advisors Inc. now owns 6,054 shares of the company’s stock valued at $207,000 after purchasing an additional 464 shares during the period. Institutional investors own 38.06% of the company’s stock.

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Hormel Foods Corporation (NYSE HRL) opened at 31.16 on Wednesday. Hormel Foods Corporation has a 52 week low of $29.75 and a 52 week high of $38.38. The stock has a market cap of $16.45 billion, a PE ratio of 19.23 and a beta of 0.58. The company has a 50-day moving average price of $31.31 and a 200-day moving average price of $33.15.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. Analysts anticipate that Hormel Foods Corporation will post $1.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a $0.17 dividend. The ex-dividend date is Friday, October 20th. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. Hormel Foods Corporation’s dividend payout ratio is 41.98%.

In other news, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at $1,852,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Morrison sold 24,814 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $31.81, for a total value of $789,333.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,518 shares of company stock valued at $6,132,366. Corporate insiders own 3.54% of the company’s stock.

HRL has been the topic of a number of analyst reports. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Zacks Investment Research downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Credit Suisse Group downgraded shares of Hormel Foods Corporation from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $39.00 to $33.00 in a research report on Friday, August 25th. Buckingham Research decreased their price target on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, August 25th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $38.00 price target (down previously from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Hormel Foods Corporation presently has a consensus rating of “Hold” and an average target price of $35.50.

About Hormel Foods Corporation

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

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