Tandem Investment Advisors Inc. Sells 78,149 Shares of Hormel Foods Co. (NYSE:HRL)

Tandem Investment Advisors Inc. lowered its position in Hormel Foods Co. (NYSE:HRL) by 4.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,880,928 shares of the company’s stock after selling 78,149 shares during the quarter. Hormel Foods accounts for 2.4% of Tandem Investment Advisors Inc.’s holdings, making the stock its 23rd biggest holding. Tandem Investment Advisors Inc.’s holdings in Hormel Foods were worth $60,397,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Verition Fund Management LLC raised its position in shares of Hormel Foods by 3.2% in the 4th quarter. Verition Fund Management LLC now owns 7,456 shares of the company’s stock worth $340,000 after acquiring an additional 231 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Hormel Foods by 1.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 20,805 shares of the company’s stock worth $948,000 after acquiring an additional 235 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Hormel Foods by 3.2% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,051 shares of the company’s stock worth $367,000 after acquiring an additional 253 shares in the last quarter. Gries Financial LLC raised its position in shares of Hormel Foods by 0.6% in the 2nd quarter. Gries Financial LLC now owns 41,002 shares of the company’s stock worth $1,649,000 after acquiring an additional 254 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in Hormel Foods by 3.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 8,258 shares of the company’s stock valued at $376,000 after buying an additional 258 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hormel Foods Stock Up 0.7 %

HRL traded up $0.23 during trading on Wednesday, hitting $34.04. 2,190,756 shares of the company’s stock traded hands, compared to its average volume of 3,177,511. The company’s 50 day simple moving average is $32.91 and its two-hundred day simple moving average is $32.47. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $41.73. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 3.27 and a beta of 0.27.

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

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, March 25th will be paid a $0.2825 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.32%. Hormel Foods’s dividend payout ratio (DPR) is currently 77.40%.

Insider Transactions at Hormel Foods

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

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.