CWA Asset Management Group LLC Makes New $249,000 Investment in Hormel Foods Co. (NYSE:HRL)

CWA Asset Management Group LLC bought a new stake in Hormel Foods Co. (NYSE:HRLFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,768 shares of the company’s stock, valued at approximately $249,000.

Other large investors also recently made changes to their positions in the company. Janiczek Wealth Management LLC increased its position in Hormel Foods by 100.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after buying an additional 1,033 shares during the period. Federated Hermes Inc. boosted its holdings in Hormel Foods by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after purchasing an additional 361 shares during the period. Sound Income Strategies LLC grew its position in shares of Hormel Foods by 516.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock worth $82,000 after purchasing an additional 2,133 shares in the last quarter. RIA Advisory Group LLC bought a new position in shares of Hormel Foods during the fourth quarter worth approximately $86,000. Finally, Covestor Ltd raised its position in shares of Hormel Foods by 23.7% in 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. Institutional investors own 40.99% of the company’s stock.

Insider Buying and Selling

In other news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the sale, the vice president now owns 68,029 shares of the company’s stock, valued at approximately $2,381,015. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Kevin L. Myers sold 10,000 shares of the business’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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark A. Coffey sold 15,400 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the transaction, the vice president now owns 68,029 shares in the company, valued at approximately $2,381,015. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock valued at $1,414,872 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $30.60 on Thursday. The business’s 50-day moving average price is $34.70 and its 200-day moving average price is $32.81. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $41.73. The company has a current ratio of 1.73, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.95 and a beta of 0.25.

Hormel Foods (NYSE:HRLGet Free Report) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the company posted $0.40 EPS. The company’s revenue was down 2.9% on a year-over-year basis. Equities research analysts forecast that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.2825 per share. The ex-dividend date is Monday, July 15th. This represents a $1.13 annualized dividend and a dividend yield of 3.69%. Hormel Foods’s payout ratio is 80.71%.

Analysts Set New Price Targets

HRL has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and set a $32.00 price objective on shares of Hormel Foods in a research note on Friday, May 31st. The Goldman Sachs Group upped their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Citigroup reduced their price objective on shares of Hormel Foods from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $29.00 in a report on Friday, May 31st. Finally, Barclays lifted their price objective on shares of Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.67.

Read Our Latest Stock Analysis on HRL

About Hormel Foods

(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.

Featured Stories

Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.