The Retirement Systems of Alabama invests in Hormel Foods Corp. (HRL) Shares

The Retirement Systems of Alabama invests in Hormel Foods Corp. (HRL) Shares

Retirement Systems of Alabama increased its position in Hormel Foods Corp. (NYSE:HRL) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 137,767 shares of the company’s stock after buying an additional 582 shares during the period. Retirement Systems of Alabama’s holdings in Hormel Foods Corp. were worth $5,042,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HRL. Checchi Capital Advisers LLC raised its position in Hormel Foods Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,762 shares of the company’s stock valued at $101,000 after buying an additional 100 shares in the last quarter. Financial Architects Inc raised its position in Hormel Foods Corp. by 1,280.6% in the second quarter. Financial Architects Inc now owns 4,059 shares of the company’s stock valued at $149,000 after buying an additional 3,765 shares in the last quarter. Bessemer Group Inc. raised its position in Hormel Foods Corp. by 92.6% in the first quarter. Bessemer Group Inc. now owns 5,550 shares of the company’s stock valued at $240,000 after buying an additional 2,668 shares in the last quarter. Sigma Planning Corp raised its position in Hormel Foods Corp. by 6.5% in the second quarter. Sigma Planning Corp now owns 6,094 shares of the company’s stock valued at $223,000 after buying an additional 373 shares in the last quarter. Finally, Cleararc Capital Inc. raised its position in Hormel Foods Corp. by 100.9% in the first quarter. Cleararc Capital Inc. now owns 6,590 shares of the company’s stock valued at $285,000 after buying an additional 3,309 shares in the last quarter. 34.09% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Corp. (NYSE:HRL) traded down 0.34% during midday trading on Friday, hitting $37.92. 1,150,562 shares of the stock traded hands. The firm’s 50-day moving average is $37.54 and its 200-day moving average is $37.44. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 24.62 and a beta of 0.57. Hormel Foods Corp. has a 52-week low of $32.75 and a 52-week high of $45.72.

Hormel Foods Corp. (NYSE:HRL) last issued its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The firm earned $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Analysts predict that Hormel Foods Corp. will post $1.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, October 20th. Hormel Foods Corp.’s dividend payout ratio is currently 37.79%.

Several equities analysts recently commented on the stock. Vetr lowered shares of Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price on the stock. in a report on Wednesday, September 28th. Zacks Investment Research raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, August 23rd. Oppenheimer Holdings Inc. assumed coverage on shares of Hormel Foods Corp. in a report on Friday, September 16th. They set a “market perform” rating and a $39.00 target price on the stock. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $43.00 target price on shares of Hormel Foods Corp. in a report on Tuesday, September 27th. Finally, Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Hormel Foods Corp. has an average rating of “Hold” and an average price target of $40.10.

In related news, VP Brian Dean Johnson sold 3,500 shares of the company’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $38.00, for a total value of $133,000.00. Following the completion of the sale, the vice president now directly owns 26,119 shares of the company’s stock, valued at $992,522. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven G. Binder sold 12,000 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $37.98, for a total transaction of $455,760.00. Following the completion of the sale, the insider now directly owns 41,622 shares of the company’s stock, valued at $1,580,803.56. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.

About Hormel Foods Corp.

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