Koss Olinger Consulting LLC Grows Position in Hormel Foods Co. (NYSE:HRL)

Koss Olinger Consulting LLC increased its position in Hormel Foods Co. (NYSE:HRL) by 22.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,404 shares of the company’s stock after purchasing an additional 2,868 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Hormel Foods were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HRL. EverSource Wealth Advisors LLC lifted its stake in shares of Hormel Foods by 688.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 647 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Hormel Foods in the 2nd quarter valued at approximately $34,000. Central Valley Advisors LLC purchased a new position in shares of Hormel Foods in the 2nd quarter valued at approximately $37,000. Register Financial Advisors LLC purchased a new position in Hormel Foods during the first quarter valued at $42,000. Finally, Capital Advisors Ltd. LLC raised its stake in Hormel Foods by 774.8% during the first quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock valued at $42,000 after buying an additional 1,077 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Insider Buying and Selling

In related news, VP Steven J. Lykken sold 9,800 shares of Hormel Foods stock in a transaction on Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the completion of the sale, the vice president now owns 30,589 shares of the company’s stock, valued at $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Steven J. Lykken sold 9,800 shares of Hormel Foods stock in a transaction on Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the completion of the sale, the vice president now owns 30,589 shares of the company’s stock, valued at $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction on Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the sale, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock valued at $2,288,338 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Hormel Foods Stock Up 2.0 %

HRL stock opened at $32.19 on Monday. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $36.86. The business has a fifty day moving average price of $31.84 and a 200-day moving average price of $32.48. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The stock has a market capitalization of $17.65 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.06 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Equities analysts forecast that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.282 dividend. This represents a $1.13 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s payout ratio is currently 80.71%.

Analyst Ratings Changes

A number of research analysts have issued reports on HRL shares. Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, August 13th. Stephens started coverage on Hormel Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average target price of $32.17.

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.