Hormel Foods Co. (NYSE:HRL) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Hormel Foods Co. (NYSE:HRL – Get Rating) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,021 shares of the company’s stock after acquiring an additional 4,755 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Hormel Foods were worth $5,786,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new stake in Hormel Foods during the fourth quarter worth approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in Hormel Foods during the first quarter worth approximately $41,000. Spire Wealth Management boosted its position in Hormel Foods by 1,673.3% during the fourth quarter. Spire Wealth Management now owns 798 shares of the company’s stock worth $36,000 after acquiring an additional 753 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Hormel Foods by 110.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 872 shares of the company’s stock worth $40,000 after acquiring an additional 458 shares during the last quarter. Finally, Intelligent Financial Strategies boosted its position in Hormel Foods by 133.0% during the fourth quarter. Intelligent Financial Strategies now owns 1,002 shares of the company’s stock worth $46,000 after acquiring an additional 572 shares during the last quarter. Institutional investors and hedge funds own 39.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HRL. StockNews.com began coverage on shares of Hormel Foods in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Barclays decreased their price target on shares of Hormel Foods from $48.00 to $45.00 in a report on Friday, March 3rd. Credit Suisse Group decreased their price target on shares of Hormel Foods from $44.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, March 3rd. Argus lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Thursday, March 30th. Finally, Bank of America decreased their price target on shares of Hormel Foods from $45.00 to $41.00 in a report on Monday, March 6th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.14.

Insider Buying and Selling

In related news, Director Elsa A. Murano sold 6,000 shares of Hormel Foods stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $40.50, for a total transaction of $243,000.00. Following the sale, the director now owns 102,698 shares of the company’s stock, valued at approximately $4,159,269. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Elsa A. Murano sold 6,000 shares of Hormel Foods stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $40.50, for a total transaction of $243,000.00. Following the sale, the director now owns 102,698 shares of the company’s stock, valued at approximately $4,159,269. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Becerra Jose Luis Prado sold 5,200 shares of Hormel Foods stock in a transaction on Monday, March 27th. The stock was sold at an average price of $39.01, for a total transaction of $202,852.00. Following the sale, the director now directly owns 18,410 shares in the company, valued at approximately $718,174.10. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Hormel Foods Stock Performance

Shares of HRL stock opened at $38.89 on Tuesday. The company’s fifty day simple moving average is $39.75 and its 200-day simple moving average is $43.58. Hormel Foods Co. has a 52 week low of $37.78 and a 52 week high of $51.69. The company has a current ratio of 2.33, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The company has a market cap of $21.25 billion, a PE ratio of 21.73, a P/E/G ratio of 3.90 and a beta of 0.17.

Hormel Foods (NYSE:HRL – Get Rating) last issued its earnings results on Thursday, March 2nd. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). Hormel Foods had a net margin of 7.90% and a return on equity of 13.10%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business posted $0.44 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that Hormel Foods Co. will post 1.73 EPS for the current year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.83%. Hormel Foods’s dividend payout ratio (DPR) is 61.45%.

Hormel Foods Company Profile

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Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment focuses on the processing, marketing, and sale of shelf-stable food products sold in the retail market.