Janney Montgomery Scott LLC Grows Position in Hormel Foods Corporation $HRL

Janney Montgomery Scott LLC boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 27.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,885 shares of the company’s stock after buying an additional 68,354 shares during the period. Janney Montgomery Scott LLC owned 0.06% of Hormel Foods worth $7,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new position in shares of Hormel Foods during the fourth quarter worth approximately $25,000. MUFG Securities EMEA plc acquired a new position in shares of Hormel Foods in the 2nd quarter valued at $26,000. Strive Financial Group LLC purchased a new stake in Hormel Foods in the 4th quarter valued at $27,000. Motiv8 Investments LLC purchased a new stake in Hormel Foods in the 4th quarter valued at $28,000. Finally, Parkside Financial Bank & Trust boosted its stake in Hormel Foods by 354.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after purchasing an additional 1,025 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 0.0%

Shares of Hormel Foods stock opened at $25.00 on Friday. The company has a market cap of $13.76 billion, a P/E ratio of 29.41, a PEG ratio of 2.87 and a beta of 0.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. Hormel Foods Corporation has a one year low of $19.70 and a one year high of $31.86. The firm has a fifty day moving average of $22.76 and a two-hundred day moving average of $23.22.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.35 EPS. On average, analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be given a $0.2925 dividend. The ex-dividend date is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a yield of 4.7%. Hormel Foods’s dividend payout ratio (DPR) is presently 137.65%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Bank of America raised their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a research report on Thursday, May 21st. Finally, Stephens upped their price objective on Hormel Foods from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.