Hormel Foods Co. (NYSE:HRL) Shares Sold by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC trimmed its stake in shares of Hormel Foods Co. (NYSE:HRL) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,900 shares of the company’s stock after selling 980 shares during the period. Uncommon Cents Investing LLC’s holdings in Hormel Foods were worth $1,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in Hormel Foods during the first quarter worth $41,000. Janiczek Wealth Management LLC boosted its position in shares of Hormel Foods by 62.9% in the 3rd quarter. Janiczek Wealth Management LLC now owns 1,028 shares of the company’s stock worth $39,000 after buying an additional 397 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in Hormel Foods by 24.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,527 shares of the company’s stock valued at $79,000 after acquiring an additional 300 shares during the last quarter. Dark Forest Capital Management LP increased its holdings in Hormel Foods by 387.0% during the 1st quarter. Dark Forest Capital Management LP now owns 1,841 shares of the company’s stock valued at $73,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Hormel Foods by 6,213.3% during the second quarter. Penserra Capital Management LLC now owns 1,894 shares of the company’s stock worth $75,000 after acquiring an additional 1,864 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hormel Foods

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.18, for a total transaction of $526,372.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,325,231.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is owned by insiders.

Hormel Foods Stock Up 0.1 %

HRL opened at $34.89 on Friday. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $41.73. The business has a 50-day moving average of $31.74 and a two-hundred day moving average of $32.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 0.79. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.37 and a beta of 0.28.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. Hormel Foods’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, research analysts expect that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be given a $0.2825 dividend. This represents a $1.13 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is currently 77.40%.

Analysts Set New Price Targets

HRL has been the subject of a number of recent research reports. Citigroup started coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Piper Sandler lifted their price objective on Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Barclays upped their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $31.00.

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.