MCF Advisors LLC Has $1.12 Million Stock Holdings in Hormel Foods Co. (NYSE:HRL)

MCF Advisors LLC increased its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 158.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 35,006 shares of the company’s stock after acquiring an additional 21,468 shares during the quarter. MCF Advisors LLC’s holdings in Hormel Foods were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its position in shares of Hormel Foods by 14.4% in the 4th quarter. Handelsbanken Fonder AB now owns 154,282 shares of the company’s stock worth $4,954,000 after purchasing an additional 19,429 shares during the period. Grandfield & Dodd LLC lifted its position in shares of Hormel Foods by 20.2% in the 4th quarter. Grandfield & Dodd LLC now owns 762,791 shares of the company’s stock worth $24,493,000 after purchasing an additional 128,349 shares during the period. abrdn plc lifted its position in shares of Hormel Foods by 22.5% in the 4th quarter. abrdn plc now owns 380,324 shares of the company’s stock worth $12,212,000 after purchasing an additional 69,745 shares during the period. RIA Advisory Group LLC acquired a new position in shares of Hormel Foods in the 4th quarter worth approximately $86,000. Finally, Federated Hermes Inc. lifted its position in shares of Hormel Foods by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after purchasing an additional 361 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the sale, the senior vice president now owns 38,708 shares in the company, valued at approximately $1,352,844.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the sale, the vice president now owns 68,029 shares in the company, valued at approximately $2,381,015. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the sale, the senior vice president now owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,800 shares of company stock worth $1,414,872. 0.69% of the stock is owned by corporate insiders.

Hormel Foods Stock Up 1.0 %

HRL stock traded up $0.36 during midday trading on Friday, reaching $34.74. 2,359,723 shares of the company’s stock traded hands, compared to its average volume of 2,454,704. The company has a market cap of $19.03 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 3.35 and a beta of 0.27. The firm’s fifty day moving average price is $33.21 and its 200-day moving average price is $32.44. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $41.73.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. Hormel Foods’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, sell-side analysts forecast that Hormel Foods Co. will post 1.59 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th will be paid a dividend of $0.2825 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.13 dividend on an annualized basis and a yield of 3.25%. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

Analyst Upgrades and Downgrades

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