Schwab Charles Investment Management Inc. Boosts Stake in Hormel (HRL)

Schwab Charles Investment Management Inc. lifted its holdings in Hormel (NYSE:HRL) by 77.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,669,639 shares of the company’s stock after buying an additional 726,269 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Hormel were worth $57,303,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. State of Wisconsin Investment Board boosted its stake in shares of Hormel by 20.0% during the 1st quarter. State of Wisconsin Investment Board now owns 766,371 shares of the company’s stock worth $26,302,000 after purchasing an additional 127,735 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Hormel by 362.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 30,373 shares of the company’s stock worth $1,043,000 after purchasing an additional 23,807 shares during the period. Copeland Capital Management LLC boosted its stake in shares of Hormel by 19.0% during the 1st quarter. Copeland Capital Management LLC now owns 259,532 shares of the company’s stock worth $8,907,000 after purchasing an additional 41,470 shares during the period. GW Henssler & Associates Ltd. boosted its stake in shares of Hormel by 2.7% during the 1st quarter. GW Henssler & Associates Ltd. now owns 365,750 shares of the company’s stock worth $12,553,000 after purchasing an additional 9,559 shares during the period. Finally, Commerce Bank boosted its stake in shares of Hormel by 10.3% during the 1st quarter. Commerce Bank now owns 15,034 shares of the company’s stock worth $516,000 after purchasing an additional 1,403 shares during the period. Hedge funds and other institutional investors own 39.40% of the company’s stock.

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A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of Hormel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 22nd. Jefferies Group reaffirmed a “buy” rating on shares of Hormel in a research note on Thursday, February 22nd. Credit Suisse Group dropped their price target on shares of Hormel from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Piper Jaffray reaffirmed a “buy” rating and set a $39.00 price target on shares of Hormel in a research note on Tuesday, February 27th. Finally, Barclays reaffirmed a “buy” rating and set a $38.00 price target (down from $40.00) on shares of Hormel in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.60.

Hormel opened at $35.90 on Friday, MarketBeat reports. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.19 and a beta of 0.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.74. Hormel has a 1 year low of $29.75 and a 1 year high of $38.00.

Hormel (NYSE:HRL) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Hormel had a net margin of 9.92% and a return on equity of 17.44%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. research analysts expect that Hormel will post 1.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, April 16th were given a $0.1875 dividend. The ex-dividend date of this dividend was Friday, April 13th. This represents a $0.75 annualized dividend and a yield of 2.09%. Hormel’s dividend payout ratio (DPR) is 47.77%.

In other Hormel news, insider Steven G. Binder sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $33.40, for a total value of $668,000.00. Following the completion of the sale, the insider now directly owns 31,964 shares of the company’s stock, valued at approximately $1,067,597.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Larry L. Vorpahl sold 180,000 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $34.21, for a total transaction of $6,157,800.00. Following the completion of the sale, the insider now directly owns 282,956 shares of the company’s stock, valued at $9,679,924.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 281,976 shares of company stock valued at $9,718,072. 3.54% of the stock is owned by corporate insiders.

Hormel Company Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Institutional Ownership by Quarter for Hormel (NYSE:HRL)