Simmons Bank Has $393,000 Stock Holdings in Hormel Foods Corporation (NYSE:HRL)

Simmons Bank raised its stake in Hormel Foods Corporation (NYSE:HRL) by 3.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 12,708 shares of the company’s stock after purchasing an additional 448 shares during the quarter. Simmons Bank’s holdings in Hormel Foods were worth $393,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new stake in Hormel Foods in the fourth quarter worth approximately $44,000. Lindbrook Capital LLC grew its position in Hormel Foods by 91.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after acquiring an additional 729 shares in the last quarter. Headlands Technologies LLC bought a new stake in Hormel Foods in the fourth quarter worth approximately $48,000. Riverview Trust Co grew its position in Hormel Foods by 183.8% in the first quarter. Riverview Trust Co now owns 1,572 shares of the company’s stock worth $49,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Hormel Foods in the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of Hormel Foods stock opened at $30.69 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.17. Hormel Foods Corporation has a fifty-two week low of $27.59 and a fifty-two week high of $33.80. The firm has a fifty day moving average price of $30.13 and a two-hundred day moving average price of $30.06. The company has a market cap of $16.88 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 3.47 and a beta of 0.33.

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

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, July 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, July 14th. Hormel Foods’s dividend payout ratio (DPR) is presently 85.29%.

Analysts Set New Price Targets

Several analysts have commented on HRL shares. BNP Paribas raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 27th. The Goldman Sachs Group assumed coverage on shares of Hormel Foods in a research report on Monday, June 23rd. They issued a “buy” rating and a $35.00 target price for the company. BNP Paribas Exane raised shares of Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 price objective for the company in a report on Tuesday, May 27th. Bank of America raised shares of Hormel Foods from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $29.00 to $35.00 in a report on Tuesday, April 15th. Finally, Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

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.