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Monday, February 6, 2023

Teacher Retirement System of Texas Has $3.70 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Teacher Retirement System of Texas raised its holdings in shares of Hormel Foods Co. (NYSE:HRLGet Rating) by 46.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,488 shares of the company’s stock after purchasing an additional 26,005 shares during the period. Teacher Retirement System of Texas’ holdings in Hormel Foods were worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission.

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→ Is This The End of Capitalism? (From Porter & Company)

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Hormel Foods by 46.4% during the 3rd quarter. Barclays PLC now owns 321,191 shares of the company’s stock worth $14,596,000 after purchasing an additional 101,799 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Hormel Foods by 12.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 494,692 shares of the company’s stock worth $22,568,000 after purchasing an additional 54,942 shares during the period. Hartford Investment Management Co. increased its position in shares of Hormel Foods by 2.3% in the third quarter. Hartford Investment Management Co. now owns 27,583 shares of the company’s stock worth $1,253,000 after purchasing an additional 623 shares during the period. Clear Street Markets LLC increased its position in shares of Hormel Foods by 132.9% in the third quarter. Clear Street Markets LLC now owns 1,374 shares of the company’s stock worth $62,000 after purchasing an additional 784 shares during the period. Finally, Stephens Inc. AR grew its position in Hormel Foods by 5.6% in the third quarter. Stephens Inc. AR now owns 93,946 shares of the company’s stock valued at $4,269,000 after acquiring an additional 4,950 shares during the last quarter. 39.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hormel Foods

In other news, VP Patrick J. Connor sold 1,577 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $46.88, for a total value of $73,929.76. Following the completion of the transaction, the vice president now directly owns 22,682 shares in the company, valued at $1,063,332.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Patrick J. Connor sold 1,577 shares of Hormel Foods stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $46.88, for a total transaction of $73,929.76. Following the transaction, the vice president now owns 22,682 shares in the company, valued at $1,063,332.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James P. Snee sold 31,283 shares of Hormel Foods stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $47.66, for a total value of $1,490,947.78. Following the completion of the sale, the chief executive officer now owns 234,999 shares in the company, valued at approximately $11,200,052.34. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of recent research reports. Argus lifted their price target on Hormel Foods from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 30th. StockNews.com assumed coverage on Hormel Foods in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average target price of $48.17.

Hormel Foods Trading Down 0.1 %

Hormel Foods stock opened at $44.60 on Wednesday. The business has a 50-day simple moving average of $46.61 and a two-hundred day simple moving average of $47.21. The company has a market cap of $24.37 billion, a P/E ratio of 24.37, a P/E/G ratio of 3.63 and a beta of 0.17. Hormel Foods Co. has a 52-week low of $44.08 and a 52-week high of $55.11. The company has a quick ratio of 1.30, a current ratio of 2.47 and a debt-to-equity ratio of 0.44.

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Hormel Foods (NYSE:HRLGet Rating) last announced its quarterly earnings data on Wednesday, November 30th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.33 billion. Hormel Foods had a return on equity of 13.62% and a net margin of 8.03%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Analysts predict that Hormel Foods Co. will post 1.89 EPS for the current year.

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 17th will be paid a dividend of $0.275 per share. This is a boost from Hormel Foods’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, January 13th. Hormel Foods’s dividend payout ratio is 60.11%.

Hormel Foods Profile

(Get Rating)

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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.

Read More

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Co. (NYSE:HRLGet Rating).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Before you consider Hormel Foods, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Hormel Foods wasn’t on the list.

While Hormel Foods currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 Stocks to Sell Now

MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by entering your email address below.

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story by The Texas Tribune Source link

Teacher Retirement System of Texas raised its holdings in shares of Hormel Foods Co. (NYSE:HRLGet Rating) by 46.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,488 shares of the company’s stock after purchasing an additional 26,005 shares during the period. Teacher Retirement System of Texas’ holdings in Hormel Foods were worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission.

→ Is This The End of Capitalism? (From Porter & Company)

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Hormel Foods by 46.4% during the 3rd quarter. Barclays PLC now owns 321,191 shares of the company’s stock worth $14,596,000 after purchasing an additional 101,799 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Hormel Foods by 12.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 494,692 shares of the company’s stock worth $22,568,000 after purchasing an additional 54,942 shares during the period. Hartford Investment Management Co. increased its position in shares of Hormel Foods by 2.3% in the third quarter. Hartford Investment Management Co. now owns 27,583 shares of the company’s stock worth $1,253,000 after purchasing an additional 623 shares during the period. Clear Street Markets LLC increased its position in shares of Hormel Foods by 132.9% in the third quarter. Clear Street Markets LLC now owns 1,374 shares of the company’s stock worth $62,000 after purchasing an additional 784 shares during the period. Finally, Stephens Inc. AR grew its position in Hormel Foods by 5.6% in the third quarter. Stephens Inc. AR now owns 93,946 shares of the company’s stock valued at $4,269,000 after acquiring an additional 4,950 shares during the last quarter. 39.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hormel Foods

In other news, VP Patrick J. Connor sold 1,577 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $46.88, for a total value of $73,929.76. Following the completion of the transaction, the vice president now directly owns 22,682 shares in the company, valued at $1,063,332.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Patrick J. Connor sold 1,577 shares of Hormel Foods stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $46.88, for a total transaction of $73,929.76. Following the transaction, the vice president now owns 22,682 shares in the company, valued at $1,063,332.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James P. Snee sold 31,283 shares of Hormel Foods stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $47.66, for a total value of $1,490,947.78. Following the completion of the sale, the chief executive officer now owns 234,999 shares in the company, valued at approximately $11,200,052.34. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of recent research reports. Argus lifted their price target on Hormel Foods from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 30th. StockNews.com assumed coverage on Hormel Foods in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average target price of $48.17.

Hormel Foods Trading Down 0.1 %

Hormel Foods stock opened at $44.60 on Wednesday. The business has a 50-day simple moving average of $46.61 and a two-hundred day simple moving average of $47.21. The company has a market cap of $24.37 billion, a P/E ratio of 24.37, a P/E/G ratio of 3.63 and a beta of 0.17. Hormel Foods Co. has a 52-week low of $44.08 and a 52-week high of $55.11. The company has a quick ratio of 1.30, a current ratio of 2.47 and a debt-to-equity ratio of 0.44.

Hormel Foods (NYSE:HRLGet Rating) last announced its quarterly earnings data on Wednesday, November 30th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.33 billion. Hormel Foods had a return on equity of 13.62% and a net margin of 8.03%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Analysts predict that Hormel Foods Co. will post 1.89 EPS for the current year.

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 17th will be paid a dividend of $0.275 per share. This is a boost from Hormel Foods’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, January 13th. Hormel Foods’s dividend payout ratio is 60.11%.

Hormel Foods Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Co. (NYSE:HRLGet Rating).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Before you consider Hormel Foods, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Hormel Foods wasn’t on the list.

While Hormel Foods currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 Stocks to Sell Now

MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by entering your email address below.

Get This Free Report

20 Stocks to Sell Now Cover



story by The Texas Tribune Source link

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