D.A. Davidson & CO. Sells 394 Shares of Hormel Foods Co. (NYSE:HRL)

D.A. Davidson & CO. lessened its holdings in Hormel Foods Co. (NYSE:HRL) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,971 shares of the company’s stock after selling 394 shares during the quarter. D.A. Davidson & CO.’s holdings in Hormel Foods were worth $284,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in Hormel Foods during the 1st quarter worth approximately $242,000. EverSource Wealth Advisors LLC raised its holdings in Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 647 shares during the last quarter. DNB Asset Management AS raised its holdings in Hormel Foods by 11.2% during the 2nd quarter. DNB Asset Management AS now owns 60,360 shares of the company’s stock worth $1,840,000 after purchasing an additional 6,065 shares during the last quarter. Sanders Morris Harris LLC raised its holdings in Hormel Foods by 43.4% during the 2nd quarter. Sanders Morris Harris LLC now owns 12,550 shares of the company’s stock worth $383,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Central Valley Advisors LLC bought a new position in Hormel Foods during the 2nd quarter worth approximately $37,000. Institutional investors own 40.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on HRL shares. Citigroup lowered their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. BNP Paribas assumed coverage on shares of Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 price objective for the company. Finally, Stephens assumed 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $31.29.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the transaction, the executive vice president now directly owns 72,421 shares in the company, valued at approximately $2,313,850.95. This trade represents a 41.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total value of $327,000.00. Following the transaction, the senior vice president now owns 39,050 shares in the company, valued at approximately $1,276,935. This trade represents a 20.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,400 shares of company stock worth $2,288,338. Corporate insiders own 0.69% of the company’s stock.

Hormel Foods Stock Performance

NYSE HRL opened at $32.00 on Thursday. The company has a fifty day simple moving average of $31.05 and a 200 day simple moving average of $31.53. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $36.86. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The company has a market cap of $17.54 billion, a P/E ratio of 22.53, a PEG ratio of 3.42 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $0.42 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts predict that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, January 13th. 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 3.63%. Hormel Foods’s dividend payout ratio (DPR) is 79.58%.

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.