Hormel Foods Co. (NYSE:HRL) Shares Acquired by KBC Group NV

KBC Group NV increased its position in shares of Hormel Foods Co. (NYSE:HRLFree Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,860 shares of the company’s stock after purchasing an additional 1,472 shares during the period. KBC Group NV’s holdings in Hormel Foods were worth $1,633,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Janiczek Wealth Management LLC increased its holdings in shares of Hormel Foods by 100.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after acquiring an additional 1,033 shares during the last quarter. Federated Hermes Inc. raised its holdings in Hormel Foods by 21.1% during the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after purchasing an additional 361 shares in the last quarter. Sound Income Strategies LLC lifted 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 buying an additional 2,133 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $86,000. Finally, Covestor Ltd grew its position in shares of Hormel Foods by 23.7% in the 3rd quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after buying an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Insider Activity

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the sale, the senior vice president now directly owns 38,708 shares in the company, valued at $1,352,844.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $539,000.00. Following the transaction, the vice president now directly owns 68,029 shares of the company’s stock, valued at approximately $2,381,015. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $28.00 to $29.00 in a research note on Friday, May 31st. The Goldman Sachs Group lifted their price target on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Barclays raised their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Stephens reiterated an “equal weight” rating and issued a $32.00 price target on shares of Hormel Foods in a research report on Friday, May 31st. Finally, Citigroup dropped 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. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.67.

Read Our Latest Research Report on HRL

Hormel Foods Stock Down 0.8 %

Shares of NYSE:HRL opened at $30.64 on Friday. The company has a market cap of $16.80 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.94 and a beta of 0.25. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $41.73. The firm’s 50-day simple moving average is $34.53 and its 200-day simple moving average is $32.78. The company has a quick ratio of 1.00, a current ratio of 1.73 and a debt-to-equity ratio of 0.36.

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

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $0.2825 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.69%. Hormel Foods’s dividend payout ratio (DPR) is presently 80.71%.

Hormel Foods 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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