Signaturefd LLC Sells 668 Shares of Hormel Foods Co. (NYSE:HRL)

Signaturefd LLC reduced its stake in Hormel Foods Co. (NYSE:HRL) by 11.1% in the 4th quarter, HoldingsChannel reports. The firm owned 5,357 shares of the company’s stock after selling 668 shares during the quarter. Signaturefd LLC’s holdings in Hormel Foods were worth $172,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HRL. Invesco Ltd. boosted its stake in Hormel Foods by 2.8% in the third quarter. Invesco Ltd. now owns 6,014,570 shares of the company’s stock valued at $228,734,000 after acquiring an additional 165,563 shares during the last quarter. Northern Trust Corp raised its position in shares of Hormel Foods by 6.0% in the third quarter. Northern Trust Corp now owns 3,059,847 shares of the company’s stock valued at $116,366,000 after purchasing an additional 172,110 shares during the period. Stifel Financial Corp raised its position in shares of Hormel Foods by 7.2% in the third quarter. Stifel Financial Corp now owns 2,510,004 shares of the company’s stock valued at $95,455,000 after purchasing an additional 167,920 shares during the period. Tandem Investment Advisors Inc. raised its position in shares of Hormel Foods by 28.0% in the third quarter. Tandem Investment Advisors Inc. now owns 1,959,077 shares of the company’s stock valued at $74,504,000 after purchasing an additional 428,100 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Hormel Foods by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,626,471 shares of the company’s stock valued at $61,855,000 after purchasing an additional 35,731 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Hormel Foods Trading Up 0.1 %

Shares of HRL opened at $35.32 on Monday. The stock has a market capitalization of $19.34 billion, a P/E ratio of 24.19, a PEG ratio of 3.41 and a beta of 0.27. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $33.84 and a two-hundred day simple moving average of $32.35. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $41.73.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. On average, research analysts anticipate that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 yield of 3.20%. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

Insiders Place Their Bets

In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total value of $349,500.00. Following the completion of the transaction, the senior vice president now directly owns 38,708 shares in the company, valued at approximately $1,352,844.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Mark A. Coffey sold 15,400 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $34.95, for a total transaction of $349,500.00. Following the sale, the senior vice president now 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 worth $1,414,872. 0.69% of the stock is currently owned by corporate insiders.

About Hormel Foods

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.