Bahl & Gaynor Inc. lowered its stake in shares of Hormel Foods Corp (NYSE:HRL) by 18.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,000 shares of the company’s stock after selling 2,500 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Hormel Foods were worth $378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Hormel Foods by 1.8% in the 4th quarter. BlackRock Inc. now owns 20,327,330 shares of the company’s stock worth $739,714,000 after buying an additional 367,255 shares during the period. Fairpointe Capital LLC increased its holdings in Hormel Foods by 0.3% in the 4th quarter. Fairpointe Capital LLC now owns 4,684,543 shares of the company’s stock worth $170,471,000 after buying an additional 16,002 shares during the period. Champlain Investment Partners LLC increased its holdings in Hormel Foods by 16.6% in the 4th quarter. Champlain Investment Partners LLC now owns 3,684,235 shares of the company’s stock worth $134,069,000 after buying an additional 524,325 shares during the period. Geode Capital Management LLC increased its holdings in Hormel Foods by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 3,229,951 shares of the company’s stock worth $117,316,000 after buying an additional 83,024 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Hormel Foods by 25.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,043,487 shares of the company’s stock worth $104,452,000 after buying an additional 621,518 shares during the period. Hedge funds and other institutional investors own 40.65% of the company’s stock.

In other news, insider Larry L. Vorpahl sold 180,000 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $34.21, for a total transaction of $6,157,800.00. Following the transaction, the insider now owns 282,956 shares in the company, valued at approximately $9,679,924.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven G. Binder sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $33.40, for a total value of $668,000.00. Following the transaction, the insider now owns 31,964 shares in the company, valued at approximately $1,067,597.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 330,999 shares of company stock worth $11,530,203. Insiders own 3.54% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, May 22nd. Jefferies Group reiterated a “buy” rating and issued a $42.00 price target on shares of Hormel Foods in a report on Thursday. Buckingham Research cut their price target on shares of Hormel Foods from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, May 25th. Credit Suisse Group cut their price target on shares of Hormel Foods from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $39.00 price target on shares of Hormel Foods in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.00.

Hormel Foods opened at $35.89 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 1.61. Hormel Foods Corp has a 12 month low of $29.75 and a 12 month high of $38.00. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 2.20 and a beta of 0.43.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, May 24th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.01). Hormel Foods had a return on equity of 17.44% and a net margin of 10.05%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts expect that Hormel Foods Corp will post 1.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Monday, July 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, July 13th. This represents a $0.75 annualized dividend and a yield of 2.09%. Hormel Foods’s dividend payout ratio is presently 47.77%.

Hormel Foods Company Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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