Hormel Foods Co. (NYSE:HRL) Shares Acquired by MCF Advisors LLC

MCF Advisors LLC increased its stake in Hormel Foods Co. (NYSE:HRLFree Report) by 54.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,500 shares of the company’s stock after buying an additional 9,684 shares during the quarter. MCF Advisors LLC’s holdings in Hormel Foods were worth $863,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in HRL. Brooklyn Investment Group acquired a new stake in shares of Hormel Foods in the 3rd quarter valued at about $32,000. Prospera Private Wealth LLC bought a new position in shares of Hormel Foods during the third quarter worth about $39,000. GAMMA Investing LLC lifted its position in Hormel Foods by 516.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after purchasing an additional 1,132 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Hormel Foods in the third quarter valued at approximately $47,000. Finally, McIlrath & Eck LLC raised its holdings in shares of Hormel Foods by 47.5% during the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock valued at $63,000 after buying an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

HRL has been the topic of a number of recent analyst reports. Stephens initiated coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. BNP Paribas assumed coverage on shares of Hormel Foods in a report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. Citigroup reduced their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, Barclays increased their price objective on Hormel Foods from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.17.

View Our Latest Analysis on HRL

Hormel Foods Stock Up 3.0 %

Shares of NYSE:HRL opened at $30.82 on Wednesday. The firm has a 50 day simple moving average of $31.27 and a 200 day simple moving average of $31.47. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The company has a market cap of $16.92 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.80 and a beta of 0.26.

Hormel Foods (NYSE:HRLGet Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, research analysts expect that Hormel Foods Co. will post 1.67 earnings per share for the current year.

Hormel Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be given a $0.29 dividend. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 13th. This represents a $1.16 dividend on an annualized basis and a yield of 3.76%. Hormel Foods’s dividend payout ratio is presently 79.45%.

Insider Activity at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken acquired 4,904 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the acquisition, the vice president now owns 7,100 shares of the company’s stock, valued at approximately $230,537. This trade represents a 223.32 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Hormel Foods Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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