Hormel Foods Co. (NYSE:HRL) Stock Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Hormel Foods Co. (NYSE:HRL) by 20.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,193 shares of the company’s stock after purchasing an additional 18,620 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hormel Foods were worth $3,506,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janiczek Wealth Management LLC grew its stake in shares of Hormel Foods by 100.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after purchasing an additional 1,033 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Hormel Foods by 516.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock valued at $82,000 after buying an additional 2,133 shares in the last quarter. Covestor Ltd boosted its stake in Hormel Foods by 23.7% during the third quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after buying an additional 561 shares in the last quarter. Huntington National Bank boosted its stake in Hormel Foods by 10.3% during the third quarter. Huntington National Bank now owns 3,801 shares of the company’s stock valued at $145,000 after buying an additional 355 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in Hormel Foods during the third quarter valued at about $174,000. Institutional investors own 40.99% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the completion of the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,325,231.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at $1,352,844.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,800 shares of company stock valued at $1,414,872. Corporate insiders own 0.69% of the company’s stock.

Hormel Foods Stock Up 1.2 %

Shares of Hormel Foods stock opened at $35.15 on Tuesday. The stock has a 50-day moving average price of $33.32 and a 200 day moving average price of $32.38. The company has a market cap of $19.25 billion, a P/E ratio of 24.07, a P/E/G ratio of 3.35 and a beta of 0.27. 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 Co. has a 1 year low of $28.51 and a 1 year high of $41.73.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data 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. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, analysts expect that Hormel Foods Co. will post 1.59 EPS 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, March 25th will be paid a $0.2825 dividend. This represents a $1.13 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s dividend payout ratio is currently 77.40%.

Wall Street Analysts Forecast Growth

HRL has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Piper Sandler raised their target price on Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Barclays upped their target price on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. The Goldman Sachs Group upped their target price on Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a report on Friday, March 1st. Finally, Citigroup started coverage on Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 target price for the company. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $31.00.

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.