M&T Bank Corp Has $251,000 Stock Position in Hormel Foods Corporation (NYSE:HRL)

M&T Bank Corp decreased its stake in Hormel Foods Corporation (NYSE:HRL) by 32.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,115 shares of the company’s stock after selling 3,921 shares during the period. M&T Bank Corp’s holdings in Hormel Foods were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Exeter Financial LLC grew its stake in shares of Hormel Foods by 2.3% in the first quarter. Exeter Financial LLC now owns 16,809 shares of the company’s stock worth $520,000 after acquiring an additional 381 shares during the last quarter. Simmons Bank grew its stake in shares of Hormel Foods by 3.7% in the first quarter. Simmons Bank now owns 12,708 shares of the company’s stock worth $393,000 after acquiring an additional 448 shares during the last quarter. Sovereign Financial Group Inc. grew its stake in shares of Hormel Foods by 2.7% in the first quarter. Sovereign Financial Group Inc. now owns 17,718 shares of the company’s stock worth $548,000 after acquiring an additional 458 shares during the last quarter. ICW Investment Advisors LLC boosted its stake in Hormel Foods by 1.0% during the fourth quarter. ICW Investment Advisors LLC now owns 44,473 shares of the company’s stock worth $1,395,000 after buying an additional 459 shares in the last quarter. Finally, G&S Capital LLC increased its holdings in Hormel Foods by 3.1% in the 1st quarter. G&S Capital LLC now owns 15,516 shares of the company’s stock valued at $480,000 after buying an additional 463 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Hormel Foods stock opened at $29.15 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Hormel Foods Corporation has a 1 year low of $27.59 and a 1 year high of $33.80. The company has a market cap of $16.03 billion, a PE ratio of 21.43, a PEG ratio of 3.38 and a beta of 0.33. The company’s 50-day moving average is $30.31 and its two-hundred day moving average is $29.98.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) 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 company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be paid a $0.29 dividend. The ex-dividend date is Monday, July 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.98%. Hormel Foods’s dividend payout ratio (DPR) is presently 85.29%.

Wall Street Analysts Forecast Growth

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

Hormel Foods 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.