Hormel Foods Co. (NYSE:HRL) SVP Acquires $24,999.60 in Stock

Hormel Foods Co. (NYSE:HRL) SVP Katherine M. Losness-Larson acquired 830 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were bought at an average price of $30.12 per share, with a total value of $24,999.60. Following the completion of the transaction, the senior vice president now directly owns 15,905 shares of the company’s stock, valued at $479,058.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hormel Foods Stock Up 0.9 %

Shares of HRL opened at $30.49 on Friday. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $41.73. The firm’s 50 day moving average is $33.29 and its 200-day moving average is $32.66. The stock has a market capitalization of $16.72 billion, a PE ratio of 21.78, a P/E/G ratio of 2.90 and a beta of 0.25. The company has a current ratio of 1.73, a quick ratio of 1.00 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 EPS for the quarter, topping 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 company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $0.2825 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.13 dividend on an annualized basis and a yield of 3.71%. Hormel Foods’s dividend payout ratio (DPR) is 80.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on HRL. Citigroup cut their price objective on shares of Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. Finally, Stephens restated an “equal weight” rating and set a $32.00 price objective on shares of Hormel Foods in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $31.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Hormel Foods by 688.3% in the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 647 shares during the last quarter. CVA Family Office LLC bought a new position in Hormel Foods in the first quarter valued at approximately $31,000. Register Financial Advisors LLC bought a new position in Hormel Foods in the first quarter valued at approximately $42,000. Capital Advisors Ltd. LLC increased its stake in Hormel Foods by 774.8% in the first quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock valued at $42,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Clarity Asset Management Inc. bought a new position in Hormel Foods in the fourth quarter valued at approximately $54,000. 40.99% of the stock is owned by institutional investors.

Hormel Foods Company Profile

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.