Toth Financial Advisory Corp Grows Stake in Hormel Foods Corp (HRL)
Toth Financial Advisory Corp grew its position in Hormel Foods Corp (NYSE:HRL) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 75,343 shares of the company’s stock after purchasing an additional 1,657 shares during the period. Toth Financial Advisory Corp’s holdings in Hormel Foods were worth $3,372,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in shares of Hormel Foods by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 32,167,606 shares of the company’s stock valued at $1,267,403,000 after buying an additional 410,107 shares during the period. BlackRock Inc. increased its stake in shares of Hormel Foods by 17.5% in the 4th quarter. BlackRock Inc. now owns 23,511,652 shares of the company’s stock valued at $1,003,476,000 after buying an additional 3,502,530 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Hormel Foods by 6,440.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,355,366 shares of the company’s stock valued at $102,000 after buying an additional 4,288,779 shares during the period. Geode Capital Management LLC increased its stake in shares of Hormel Foods by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 4,248,495 shares of the company’s stock valued at $181,055,000 after buying an additional 598,442 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of Hormel Foods by 91.6% in the 4th quarter. APG Asset Management N.V. now owns 3,595,652 shares of the company’s stock valued at $134,245,000 after buying an additional 1,719,400 shares during the period. 43.46% of the stock is owned by institutional investors.
Shares of Hormel Foods stock traded down $0.05 during trading on Monday, reaching $41.10. 2,107,733 shares of the company were exchanged, compared to its average volume of 2,756,095. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. Hormel Foods Corp has a twelve month low of $34.12 and a twelve month high of $46.26. The stock has a market cap of $21.92 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.19.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, April 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.04%. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.
Several research firms have recently commented on HRL. Zacks Investment Research raised Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, February 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $44.00 price objective on shares of Hormel Foods in a research note on Thursday, February 21st. Stephens started coverage on Hormel Foods in a research note on Monday, March 4th. They set an “equal weight” rating for the company. Credit Suisse Group reaffirmed a “hold” rating and set a $39.00 price objective on shares of Hormel Foods in a research note on Thursday, February 21st. Finally, ValuEngine cut Hormel Foods from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.33.
In other Hormel Foods news, VP Lori J. Marco sold 13,000 shares of Hormel Foods stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $41.56, for a total transaction of $540,280.00. Following the transaction, the vice president now directly owns 48,304 shares in the company, valued at $2,007,514.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.13, for a total value of $189,585.00. Following the transaction, the director now owns 101,067 shares in the company, valued at $4,257,952.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,705 shares of company stock valued at $12,116,336. 1.11% of the stock is owned by insiders.
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About Hormel Foods
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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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