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

FLC Capital Advisors purchased a new position in shares of Hormel Foods Co. (NYSE:HRL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,881 shares of the company’s stock, valued at approximately $216,000.

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

Insider Activity

In related news, VP Steven J. Lykken purchased 4,904 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price 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 of the company’s stock, valued at $230,537. This trade represents a 223.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Hormel Foods Price Performance

Shares of NYSE:HRL opened at $29.93 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods Co. has a one year low of $28.51 and a one year high of $36.86. The company has a 50-day simple moving average of $31.28 and a 200-day simple moving average of $31.46. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 2.85 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts predict that Hormel Foods Co. will post 1.65 EPS for the current year.

Hormel Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Monday, January 13th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. Hormel Foods’s dividend payout ratio (DPR) is 77.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BNP Paribas started coverage on Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price on the stock. 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 objective on the stock. Finally, Citigroup dropped their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.00.

About Hormel Foods

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.