CoreCap Advisors LLC Boosts Stock Position in Hormel Foods Co. (NYSE:HRL)

CoreCap Advisors LLC lifted its holdings in Hormel Foods Co. (NYSE:HRLFree Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,729 shares of the company’s stock after purchasing an additional 475 shares during the quarter. CoreCap Advisors LLC’s holdings in Hormel Foods were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HRL. Janiczek Wealth Management LLC grew its holdings in shares of Hormel Foods by 62.9% in the third quarter. Janiczek Wealth Management LLC now owns 1,028 shares of the company’s stock valued at $39,000 after purchasing an additional 397 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Hormel Foods in the first quarter valued at $41,000. Dark Forest Capital Management LP grew its holdings in shares of Hormel Foods by 387.0% in the first quarter. Dark Forest Capital Management LP now owns 1,841 shares of the company’s stock valued at $73,000 after purchasing an additional 1,463 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Hormel Foods by 6,213.3% in the second quarter. Penserra Capital Management LLC now owns 1,894 shares of the company’s stock valued at $75,000 after purchasing an additional 1,864 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Hormel Foods by 24.4% in the first quarter. Salem Investment Counselors Inc. now owns 1,527 shares of the company’s stock valued at $79,000 after purchasing an additional 300 shares in the last quarter. 41.15% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Stock Up 0.4 %

NYSE:HRL opened at $34.35 on Wednesday. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $41.73. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 3.33 and a beta of 0.28. The stock has a fifty day simple moving average of $31.61 and a 200-day simple moving average of $32.87. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30.

Hormel Foods (NYSE:HRLGet Free Report) last released its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be issued a $0.2825 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.13 annualized dividend and a dividend yield of 3.29%. Hormel Foods’s payout ratio is currently 77.40%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a report on Friday, March 1st. Barclays raised their price target on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised their price target on Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Citigroup assumed coverage on Hormel Foods in a research report on Thursday, February 1st. They issued a “neutral” rating and a $31.00 price target for the company. Finally, Piper Sandler raised their price target on Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.00.

Read Our Latest Report on HRL

Insider Activity at Hormel Foods

In related news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.18, for a total value of $526,372.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,325,231.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

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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