6,881 Shares in Hormel Foods Co. (NYSE:HRL) Bought by FLC Capital Advisors

FLC Capital Advisors bought a new position in shares of Hormel Foods Co. (NYSE:HRL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,881 shares of the company’s stock, valued at approximately $216,000.

Several other large investors also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Hormel Foods by 202.4% in the 2nd quarter. American Century Companies Inc. now owns 94,599 shares of the company’s stock worth $2,884,000 after buying an additional 63,313 shares in the last quarter. Federated Hermes Inc. increased its holdings in Hormel Foods by 142.3% during the 2nd quarter. Federated Hermes Inc. now owns 4,929 shares of the company’s stock valued at $150,000 after acquiring an additional 2,895 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Hormel Foods by 4.1% during the second quarter. Envestnet Asset Management Inc. now owns 864,858 shares of the company’s stock worth $26,370,000 after acquiring an additional 33,998 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hormel Foods by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock valued at $90,738,000 after purchasing an additional 575,378 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Hormel Foods by 1.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock worth $959,000 after purchasing an additional 384 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insiders Place Their Bets

In other news, VP Steven J. Lykken acquired 4,904 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the acquisition, the vice president now directly owns 7,100 shares in the company, valued at approximately $230,537. This represents a 223.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.

Hormel Foods Price Performance

HRL stock opened at $29.93 on Monday. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.85 and a beta of 0.26. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $36.86. The stock’s fifty day simple moving average is $31.28 and its 200-day simple moving average is $31.46.

Hormel Foods (NYSE:HRL) last issued its quarterly 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 return on equity of 10.95% and a net margin of 6.75%. 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 earnings per share. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. Equities research analysts expect that Hormel Foods Co. will post 1.65 EPS for the current year.

Hormel Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a dividend of $0.29 per share. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, January 13th. This represents a $1.16 annualized dividend and a yield of 3.88%. Hormel Foods’s dividend payout ratio is 77.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stephens initiated coverage on Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. Citigroup decreased their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, BNP Paribas initiated coverage on shares of Hormel Foods in a research note on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.00.

Hormel Foods 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.