SG Americas Securities LLC Acquires 11,126 Shares of Hormel Foods Corporation (NYSE:HRL)

SG Americas Securities LLC increased its holdings in Hormel Foods Corporation (NYSE:HRL) by 84.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,285 shares of the company’s stock after buying an additional 11,126 shares during the period. SG Americas Securities LLC’s holdings in Hormel Foods were worth $751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of HRL. Norges Bank bought a new position in Hormel Foods in the 4th quarter valued at $102,598,000. Two Sigma Advisers LP raised its position in shares of Hormel Foods by 496.3% during the 4th quarter. Two Sigma Advisers LP now owns 2,185,600 shares of the company’s stock valued at $68,562,000 after buying an additional 1,819,100 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Hormel Foods by 466.5% during the 4th quarter. Two Sigma Investments LP now owns 2,053,160 shares of the company’s stock valued at $64,408,000 after buying an additional 1,690,746 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock valued at $91,810,000 after buying an additional 1,175,087 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Hormel Foods by 33.9% during the 4th quarter. Stifel Financial Corp now owns 4,374,456 shares of the company’s stock valued at $137,227,000 after buying an additional 1,107,270 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Up 0.7%

Shares of Hormel Foods stock opened at $30.39 on Friday. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 3.42 and a beta of 0.33. The company’s 50 day moving average is $30.11 and its 200 day moving average is $30.23. Hormel Foods Corporation has a twelve month low of $27.59 and a twelve month high of $33.80. The company has a quick ratio of 1.17, a current ratio of 2.47 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.92 billion. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. Research analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, July 14th. Hormel Foods’s payout ratio is 85.29%.

Insider Activity at Hormel Foods

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $30.40, for a total value of $136,800.00. Following the transaction, the director now directly owns 95,488 shares of the company’s stock, valued at approximately $2,902,835.20. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HRL has been the topic of several research reports. BNP Paribas Exane upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 price objective on the stock in a research report on Tuesday, May 27th. Bank of America upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $29.00 to $35.00 in a research report on Tuesday, April 15th. BNP Paribas raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 27th. Finally, Stephens reiterated an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Hormel Foods has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Hormel Foods Company Profile

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.