Pacer Advisors Inc. Buys 62,225 Shares of Hormel Foods Co. (NYSE:HRL)

Pacer Advisors Inc. raised its stake in shares of Hormel Foods Co. (NYSE:HRLFree Report) by 124.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,229 shares of the company’s stock after purchasing an additional 62,225 shares during the period. Pacer Advisors Inc.’s holdings in Hormel Foods were worth $3,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of HRL. Verition Fund Management LLC lifted its position in Hormel Foods by 3.2% in the fourth quarter. Verition Fund Management LLC now owns 7,456 shares of the company’s stock worth $340,000 after buying an additional 231 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Hormel Foods by 1.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 20,805 shares of the company’s stock worth $948,000 after acquiring an additional 235 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Hormel Foods by 3.2% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,051 shares of the company’s stock worth $367,000 after acquiring an additional 253 shares during the last quarter. Gries Financial LLC grew its holdings in Hormel Foods by 0.6% during the 2nd quarter. Gries Financial LLC now owns 41,002 shares of the company’s stock valued at $1,649,000 after purchasing an additional 254 shares during the last quarter. Finally, SeaCrest Wealth Management LLC raised its position in Hormel Foods by 3.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 8,258 shares of the company’s stock worth $376,000 after purchasing an additional 258 shares during the period. 40.99% of the stock is owned by institutional investors.

Hormel Foods Trading Up 0.1 %

Shares of NYSE HRL opened at $34.89 on Friday. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $41.73. The firm has a market cap of $19.11 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 3.37 and a beta of 0.28. The business has a fifty day simple moving average of $31.82 and a two-hundred day simple moving average of $32.87. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30.

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

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is 77.40%.

Analyst Ratings Changes

Several research analysts have issued reports on HRL shares. Barclays boosted their target price on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, March 1st. The Goldman Sachs Group increased their target price on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Piper Sandler boosted their target price on shares of Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Finally, Citigroup started coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They issued a “neutral” rating and a $31.00 price target on the stock. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and a consensus price target of $31.00.

View Our Latest Report on Hormel Foods

Insiders Place Their Bets

In related news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.18, for a total transaction of $526,372.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,325,231.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Hormel Foods Company 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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