Cwm LLC Purchases 23,943 Shares of Hormel Foods Co. (NYSE:HRL)

Cwm LLC raised its stake in Hormel Foods Co. (NYSE:HRL) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 476,969 shares of the company’s stock after acquiring an additional 23,943 shares during the quarter. Cwm LLC’s holdings in Hormel Foods were worth $16,641,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Hormel Foods during the fourth quarter worth approximately $62,323,000. Goldman Sachs Group Inc. boosted its position in shares of Hormel Foods by 97.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock worth $93,151,000 after acquiring an additional 1,434,437 shares in the last quarter. Vest Financial LLC boosted its position in shares of Hormel Foods by 54.4% during the 4th quarter. Vest Financial LLC now owns 868,251 shares of the company’s stock worth $27,880,000 after acquiring an additional 305,866 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Hormel Foods during the 3rd quarter worth approximately $8,595,000. Finally, Trexquant Investment LP boosted its position in shares of Hormel Foods by 195.1% during the 3rd quarter. Trexquant Investment LP now owns 304,600 shares of the company’s stock worth $11,584,000 after acquiring an additional 201,377 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Hormel Foods

In other news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods 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 completion of the transaction, the senior vice president now directly owns 38,708 shares in the company, valued at $1,352,844.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark A. Coffey sold 15,400 shares of the business’s stock in a transaction dated 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 owns 68,029 shares in the company, valued at $2,381,015. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

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

Hormel Foods Price Performance

Shares of NYSE HRL opened at $30.37 on Thursday. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $41.73. The firm has a fifty day simple moving average of $33.82 and a 200 day simple moving average of $32.72. The company has a market capitalization of $16.65 billion, a PE ratio of 21.69, a P/E/G ratio of 2.92 and a beta of 0.25. 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:HRL) last announced its earnings results on Thursday, May 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm earned $0.40 earnings per share. Hormel Foods’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.2825 dividend. This represents a $1.13 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, July 15th. Hormel Foods’s dividend payout ratio (DPR) is currently 80.71%.

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.