Sumitomo Mitsui Trust Holdings Inc. Cuts Holdings in Hormel Foods Co. (NYSE:HRL)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Hormel Foods Co. (NYSE:HRLFree Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 896,257 shares of the company’s stock after selling 8,885 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.16% of Hormel Foods worth $31,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in HRL. CVA Family Office LLC acquired a new stake in Hormel Foods in the 1st quarter valued at $31,000. Register Financial Advisors LLC acquired a new stake in Hormel Foods in the 1st quarter valued at $42,000. Capital Advisors Ltd. LLC increased its holdings in Hormel Foods by 774.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock valued at $42,000 after purchasing an additional 1,077 shares in the last quarter. Clarity Asset Management Inc. acquired a new stake in Hormel Foods in the 4th quarter valued at $54,000. Finally, Janiczek Wealth Management LLC increased its holdings in Hormel Foods by 100.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after purchasing an additional 1,033 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Stock Down 0.5 %

NYSE:HRL opened at $30.15 on Tuesday. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.90 and a beta of 0.24. Hormel Foods Co. has a one year low of $28.51 and a one year high of $41.73. The stock has a 50-day simple moving average of $32.69 and a 200 day simple moving average of $32.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.73.

Hormel Foods (NYSE:HRLGet Free Report) last issued its earnings results on Thursday, May 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the company posted $0.40 earnings per share. Hormel Foods’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that Hormel Foods Co. will post 1.6 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.2825 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.13 dividend on an annualized basis and a yield of 3.75%. Hormel Foods’s dividend payout ratio is currently 80.71%.

Analysts Set New Price Targets

HRL has been the subject of several recent analyst reports. Citigroup lowered their target price on Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Stephens restated an “equal weight” rating and set a $32.00 target price on shares of Hormel Foods in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. upgraded Hormel Foods from an “underweight” rating to a “neutral” rating and raised their target price for the company from $28.00 to $29.00 in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Hormel Foods currently has a consensus rating of “Hold” and an average target price of $31.67.

Check Out Our Latest Stock Analysis on Hormel Foods

Hormel Foods Company Profile

(Free Report)

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.

Further Reading

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

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