Larson Financial Group LLC Has $263,000 Holdings in Hormel Foods Co. (NYSE:HRL)

Larson Financial Group LLC lessened its position in Hormel Foods Co. (NYSE:HRL) by 52.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,307 shares of the company’s stock after selling 9,303 shares during the period. Larson Financial Group LLC’s holdings in Hormel Foods were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Empower Advisory Group LLC increased its stake 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 during the period. Vanguard Personalized Indexing Management LLC increased 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 during the period. Keynote Financial Services LLC lifted its holdings in shares of Hormel Foods by 3.7% during the third quarter. Keynote Financial Services LLC now owns 13,202 shares of the company’s stock worth $419,000 after buying an additional 472 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Hormel Foods by 1.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 41,751 shares of the company’s stock valued at $1,273,000 after acquiring an additional 485 shares during the period. Finally, Accredited Investors Inc. grew its stake in shares of Hormel Foods by 4.0% in 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 during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insider Buying and Selling at Hormel Foods

In other news, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 30,589 shares of the company’s stock, valued at $976,094.99. The trade was a 24.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 71,400 shares of company stock worth $2,288,338 over the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Hormel Foods Stock Performance

NYSE:HRL opened at $31.91 on Thursday. The firm has a market capitalization of $17.50 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.33 and a beta of 0.26. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $36.86. The firm has a 50-day moving average price of $31.00 and a 200 day moving average price of $31.66.

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

Hormel Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be issued a dividend of $0.29 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s dividend payout ratio (DPR) is currently 79.58%.

Analysts Set New Price Targets

HRL has been the subject of several research analyst reports. Stephens started coverage on shares of Hormel Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price for the company. BNP Paribas began coverage on shares of Hormel Foods in a research note on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price for the company. Finally, Citigroup lowered their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.29.

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.