Hormel Foods Co. (NYSE:HRL) Shares Purchased by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lifted its stake in Hormel Foods Co. (NYSE:HRL) by 13.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,508 shares of the company’s stock after purchasing an additional 1,488 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Hormel Foods were worth $436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ProShare Advisors LLC lifted its stake in shares of Hormel Foods by 9.9% in the first quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock valued at $196,729,000 after purchasing an additional 505,942 shares during the period. Mairs & Power Inc. lifted its stake in shares of Hormel Foods by 2.0% in the fourth quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after purchasing an additional 108,944 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Hormel Foods by 97.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after purchasing an additional 1,434,437 shares during the period. Stifel Financial Corp lifted its stake in shares of Hormel Foods by 5.8% in the fourth quarter. Stifel Financial Corp now owns 2,654,609 shares of the company’s stock valued at $85,239,000 after purchasing an additional 144,605 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Hormel Foods by 8.2% in the fourth quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock valued at $82,963,000 after purchasing an additional 196,460 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HRL shares. Citigroup cut their target price on shares of Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. Finally, Stephens restated an “equal weight” rating and set a $32.00 target price on shares of Hormel Foods in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.67.

Hormel Foods Stock Performance

Shares of NYSE HRL opened at $32.86 on Friday. The company has a market cap of $18.02 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 3.11 and a beta of 0.24. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $41.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.73 and a quick ratio of 1.00. The company has a 50-day simple moving average of $31.17 and a 200-day simple moving average of $32.54.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.97 billion. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities analysts anticipate that Hormel Foods Co. will post 1.6 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.2825 per share. The ex-dividend date is Monday, July 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.44%. Hormel Foods’s dividend payout ratio (DPR) is presently 80.71%.

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.