ICW Investment Advisors LLC grew its stake in Hormel Foods Corp (NYSE:HRL) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,785 shares of the company’s stock after buying an additional 303 shares during the period. Hormel Foods makes up approximately 1.5% of ICW Investment Advisors LLC’s holdings, making the stock its 16th biggest position. ICW Investment Advisors LLC’s holdings in Hormel Foods were worth $1,529,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in HRL. Retirement Systems of Alabama lifted its position in shares of Hormel Foods by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 122,207 shares of the company’s stock worth $5,513,000 after buying an additional 615 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Hormel Foods by 13.7% in the fourth quarter. Wetherby Asset Management Inc. now owns 6,628 shares of the company’s stock worth $299,000 after buying an additional 797 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Hormel Foods by 16.5% in the fourth quarter. SG Americas Securities LLC now owns 30,373 shares of the company’s stock worth $1,370,000 after buying an additional 4,308 shares during the last quarter. Kovack Advisors Inc. lifted its position in shares of Hormel Foods by 18.2% in the fourth quarter. Kovack Advisors Inc. now owns 14,218 shares of the company’s stock worth $641,000 after buying an additional 2,191 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Hormel Foods by 11.1% in the fourth quarter. Parallel Advisors LLC now owns 9,414 shares of the company’s stock worth $425,000 after purchasing an additional 939 shares during the period. 43.03% of the stock is owned by institutional investors.
In other news, VP Luis G. Marconi sold 11,900 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $47.58, for a total value of $566,202.00. Following the sale, the vice president now directly owns 36,675 shares in the company, valued at approximately $1,744,996.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas R. Day sold 46,213 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $49.02, for a total value of $2,265,361.26. Following the completion of the sale, the executive vice president now owns 79,010 shares in the company, valued at $3,873,070.20. The disclosure for this sale can be found here. Insiders have sold 111,380 shares of company stock worth $5,391,665 over the last 90 days. Corporate insiders own 1.15% of the company’s stock.
A number of equities analysts have recently commented on HRL shares. Goldman Sachs Group upgraded Hormel Foods from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $35.00 to $45.00 in a research note on Thursday, March 26th. Barclays lifted their price objective on Hormel Foods from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 31st. Piper Sandler lowered Hormel Foods from an “overweight” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Tuesday, April 28th. Finally, Cfra lifted their price objective on Hormel Foods from $38.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Hormel Foods has a consensus rating of “Hold” and an average price target of $44.38.
HRL traded up $0.07 on Monday, hitting $48.90. 723,784 shares of the stock traded hands, compared to its average volume of 2,311,239. Hormel Foods Corp has a 52 week low of $39.01 and a 52 week high of $51.53. The company has a current ratio of 1.70, a quick ratio of 0.91 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $26.26 billion, a PE ratio of 28.56, a P/E/G ratio of 3.90 and a beta of -0.05. The business has a fifty day moving average price of $47.63 and a two-hundred day moving average price of $45.75.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, May 21st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 9.64% and a return on equity of 15.38%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Hormel Foods Corp will post 1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be paid a dividend of $0.2325 per share. The ex-dividend date is Friday, July 10th. This represents a $0.93 annualized dividend and a yield of 1.90%. Hormel Foods’s dividend payout ratio is 53.45%.
Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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