Federated Hermes Inc. Has $66,000 Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Federated Hermes Inc. grew its holdings in Hormel Foods Co. (NYSE:HRL) by 21.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,069 shares of the company’s stock after acquiring an additional 361 shares during the period. Federated Hermes Inc.’s holdings in Hormel Foods were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HRL. Tandem Investment Advisors Inc. lifted its stake in shares of Hormel Foods by 28.0% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,959,077 shares of the company’s stock worth $74,504,000 after buying an additional 428,100 shares during the last quarter. Vest Financial LLC grew its position in shares of Hormel Foods by 54.4% in the fourth quarter. Vest Financial LLC now owns 868,251 shares of the company’s stock valued at $27,880,000 after purchasing an additional 305,866 shares during the last quarter. CBOE Vest Financial LLC increased its stake in shares of Hormel Foods by 86.7% during the third quarter. CBOE Vest Financial LLC now owns 562,385 shares of the company’s stock worth $21,388,000 after purchasing an additional 261,234 shares during the period. iA Global Asset Management Inc. acquired a new stake in Hormel Foods during the 3rd quarter worth approximately $8,595,000. Finally, Trexquant Investment LP boosted its holdings in Hormel Foods by 195.1% in the 3rd quarter. Trexquant Investment LP now owns 304,600 shares of the company’s stock valued at $11,584,000 after purchasing an additional 201,377 shares during the period. Institutional investors own 40.99% of the company’s stock.

Insider Activity

In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the transaction, the senior vice president now owns 38,708 shares in the company, valued at approximately $1,352,844.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the transaction, the vice president now directly owns 68,029 shares in the company, valued at $2,381,015. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock worth $1,414,872 over the last three months. 0.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on HRL. 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. The Goldman Sachs Group boosted their target price on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a research 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 research report on Friday, January 12th. JPMorgan Chase & Co. boosted their price objective on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Finally, Citigroup assumed coverage on Hormel Foods in a report on Thursday, February 1st. They issued a “neutral” rating and a $31.00 target price on the stock. Two investment 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 currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $34.80 on Tuesday. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 3.39 and a beta of 0.28. The company’s fifty day moving average is $34.48 and its 200 day moving average is $32.48. 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 Co. has a twelve month low of $28.51 and a twelve month high of $41.73.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. Hormel Foods’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. Sell-side analysts forecast that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th will be paid a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is 77.40%.

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.