Hormel Foods Co. (NYSE:HRL) Stake Increased by Captrust Financial Advisors

Captrust Financial Advisors grew its holdings in Hormel Foods Co. (NYSE:HRL) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,690 shares of the company’s stock after purchasing an additional 459 shares during the period. Captrust Financial Advisors’ holdings in Hormel Foods were worth $434,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Empower Advisory Group LLC lifted its position in shares of Hormel Foods by 3.7% in the third quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock worth $306,000 after purchasing an additional 342 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Hormel Foods by 1.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock worth $959,000 after buying an additional 384 shares in the last quarter. Keynote Financial Services LLC lifted its position in Hormel Foods by 3.7% in the 3rd quarter. Keynote Financial Services LLC now owns 13,202 shares of the company’s stock worth $419,000 after buying an additional 472 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Hormel Foods by 1.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 41,751 shares of the company’s stock worth $1,273,000 after acquiring an additional 485 shares in the last quarter. Finally, Accredited Investors Inc. raised its holdings in shares of Hormel Foods by 4.0% during the second quarter. Accredited Investors Inc. now owns 13,925 shares of the company’s stock worth $425,000 after acquiring an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HRL shares. Citigroup cut their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. 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 price target on the stock. Finally, Stephens started coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Hormel Foods has a consensus rating of “Hold” and a consensus price target of $31.29.

Insider Transactions at Hormel Foods

In other news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 39,050 shares of the company’s stock, valued at $1,276,935. This represents a 20.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Steven J. Lykken acquired 4,904 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was purchased at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the transaction, the vice president now directly owns 7,100 shares in the company, valued at approximately $230,537. The trade was a 223.32 % increase in their position. The disclosure for this purchase can be found here. 0.69% of the stock is owned by insiders.

Hormel Foods Price Performance

NYSE:HRL opened at $33.04 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock has a market cap of $18.12 billion, a P/E ratio of 22.74, a PEG ratio of 3.08 and a beta of 0.26. The company has a fifty day moving average price of $31.19 and a 200 day moving average price of $31.43. Hormel Foods Co. has a one year low of $28.51 and a one year high of $36.86.

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 the consensus estimate of $0.43 by ($0.01). The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Analysts anticipate that Hormel Foods Co. will post 1.65 earnings per share for the current year.

Hormel Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.51%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, January 13th. Hormel Foods’s dividend payout ratio is 79.45%.

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.