Creative Planning Buys 9,127 Shares of Hormel Foods Co. (NYSE:HRL)

Creative Planning increased its stake in shares of Hormel Foods Co. (NYSE:HRL) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,651 shares of the company’s stock after purchasing an additional 9,127 shares during the period. Creative Planning’s holdings in Hormel Foods were worth $3,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HRL. EverSource Wealth Advisors LLC boosted its position in shares of Hormel Foods by 688.3% during the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 647 shares in the last quarter. International Assets Investment Management LLC bought a new position in Hormel Foods during the second quarter worth about $34,000. Central Valley Advisors LLC bought a new stake in shares of Hormel Foods in the second quarter worth about $37,000. Register Financial Advisors LLC acquired a new stake in shares of Hormel Foods during the first quarter worth about $42,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Hormel Foods by 774.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock valued at $42,000 after purchasing an additional 1,077 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Down 0.1 %

Hormel Foods stock opened at $31.06 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $36.86. The company has a fifty day simple moving average of $31.79 and a 200 day simple moving average of $32.41. The company has a market cap of $17.03 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 3.06 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company earned $0.40 EPS. Hormel Foods’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.282 dividend. This represents a $1.13 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s payout ratio is presently 80.71%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HRL. BNP Paribas assumed coverage on Hormel Foods in a research note on Monday, October 21st. They set an “underperform” rating and a $28.00 target price for the company. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $37.00 in a report on Tuesday, August 13th. Finally, Stephens started coverage on shares of Hormel Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.57.

Insider Activity at Hormel Foods

In other news, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total value of $327,000.00. Following the sale, the senior vice president now directly owns 39,050 shares of the company’s stock, valued at approximately $1,276,935. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total transaction of $327,000.00. Following the completion of the transaction, the senior vice president now directly owns 39,050 shares of the company’s stock, valued at $1,276,935. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Steven J. Lykken sold 9,800 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $31.91, for a total transaction of $312,718.00. Following the sale, the vice president now owns 30,589 shares of the company’s stock, valued at approximately $976,094.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,400 shares of company stock valued at $2,288,338. 0.69% of the stock is owned by corporate insiders.

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.