Hormel Foods Corporation (HRL) Position Decreased by Texas Permanent School Fund

Texas Permanent School Fund decreased its stake in Hormel Foods Corporation (NYSE:HRL) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,791 shares of the company’s stock after selling 3,008 shares during the period. Texas Permanent School Fund’s holdings in Hormel Foods Corporation were worth $2,585,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Hormel Foods Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock valued at $1,048,207,000 after buying an additional 1,608,528 shares during the last quarter. State Street Corp boosted its position in Hormel Foods Corporation by 93.3% in the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock valued at $1,042,171,000 after buying an additional 14,529,149 shares during the last quarter. BlackRock Inc. boosted its position in Hormel Foods Corporation by 1,105.9% in the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock valued at $657,673,000 after buying an additional 17,416,591 shares during the last quarter. APG Asset Management N.V. boosted its position in Hormel Foods Corporation by 3.3% in the second quarter. APG Asset Management N.V. now owns 5,165,938 shares of the company’s stock valued at $176,210,000 after buying an additional 162,900 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Hormel Foods Corporation by 7.0% in the first quarter. Geode Capital Management LLC now owns 2,874,523 shares of the company’s stock valued at $99,413,000 after buying an additional 187,886 shares during the last quarter. Institutional investors and hedge funds own 38.40% of the company’s stock.

Hormel Foods Corporation (NYSE:HRL) traded up 0.68% during midday trading on Friday, hitting $34.09. The stock had a trading volume of 1,782,300 shares. Hormel Foods Corporation has a 1-year low of $32.26 and a 1-year high of $40.00. The stock’s 50-day moving average is $33.62 and its 200-day moving average is $34.58. The company has a market capitalization of $18.02 billion, a PE ratio of 20.79 and a beta of 0.56.

Hormel Foods Corporation (NYSE:HRL) last released its quarterly earnings results on Thursday, May 25th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Hormel Foods Corporation had a return on equity of 19.57% and a net margin of 9.42%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 EPS. Equities research analysts forecast that Hormel Foods Corporation will post $1.65 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 17th were given a $0.17 dividend. The ex-dividend date was Thursday, July 13th. This represents a $0.68 annualized dividend and a yield of 1.99%. Hormel Foods Corporation’s dividend payout ratio is currently 41.46%.

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Several equities analysts recently commented on HRL shares. BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Credit Suisse Group reduced their target price on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, May 26th. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Hormel Foods Corporation in a report on Friday, June 16th. Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price objective on shares of Hormel Foods Corporation in a report on Monday, June 12th. Finally, Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $40.50.

In related news, insider Thomas R. Day sold 11,139 shares of Hormel Foods Corporation stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the transaction, the insider now owns 24,838 shares in the company, valued at $830,334.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Luis G. Marconi sold 1,300 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the transaction, the insider now owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.

About Hormel Foods Corporation

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

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