Hormel Foods Co. (NYSE:HRL) Stock Holdings Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Hormel Foods Co. (NYSE:HRL) by 349.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,068 shares of the company’s stock after buying an additional 4,717 shares during the quarter. GAMMA Investing LLC’s holdings in Hormel Foods were worth $190,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Hormel Foods during the third quarter valued at approximately $32,000. Prospera Private Wealth LLC bought a new stake in shares of Hormel Foods in the 3rd quarter valued at approximately $39,000. Sentry Investment Management LLC acquired a new stake in shares of Hormel Foods during the 2nd quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new position in Hormel Foods during the third quarter worth $47,000. Finally, McIlrath & Eck LLC boosted its holdings in Hormel Foods by 47.5% in the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock worth $63,000 after purchasing an additional 638 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Stock Performance

Shares of HRL opened at $30.44 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods Co. has a 1 year low of $28.51 and a 1 year high of $36.86. The firm has a fifty day moving average of $31.37 and a 200-day moving average of $31.48. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 3.12 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities analysts anticipate that Hormel Foods Co. will post 1.65 earnings per share for the current year.

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a $0.29 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s dividend payout ratio (DPR) is currently 79.45%.

Analyst Upgrades and Downgrades

HRL has been the topic of a number of research reports. BNP Paribas started coverage on shares of Hormel Foods in a report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price on the stock. Stephens began coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Citigroup cut their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.29.

Insider Buying and Selling at Hormel Foods

In related news, VP Steven J. Lykken bought 4,904 shares of the stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $32.47 per share, with a total value of $159,232.88. Following the purchase, the vice president now owns 7,100 shares in the company, valued at approximately $230,537. This represents a 223.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

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.