Nicholas Hoffman & Company LLC. Decreases Stock Position in Hormel Foods Co. (NYSE:HRL)

Nicholas Hoffman & Company LLC. trimmed its position in shares of Hormel Foods Co. (NYSE:HRL) by 33.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,748 shares of the company’s stock after selling 2,879 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Hormel Foods were worth $201,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in shares of Hormel Foods during the first quarter worth $31,000. Register Financial Advisors LLC acquired a new stake in shares of Hormel Foods in the first quarter valued at approximately $42,000. Capital Advisors Ltd. LLC increased its holdings in shares of Hormel Foods by 774.8% in the first quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock valued at $42,000 after purchasing an additional 1,077 shares during the last quarter. Clarity Asset Management Inc. purchased a new position in Hormel Foods during the fourth quarter worth approximately $54,000. Finally, Janiczek Wealth Management LLC boosted its stake in Hormel Foods by 100.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after buying an additional 1,033 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hormel Foods

In other news, 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 transaction of $349,500.00. Following the completion of the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Hormel Foods 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 sale, the senior vice president now directly owns 38,708 shares in the company, valued at $1,352,844.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $35.00, for a total value of $539,000.00. Following the transaction, the vice president now directly owns 68,029 shares of the company’s stock, valued at $2,381,015. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,800 shares of company stock valued at $1,414,872. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of recent research reports. Barclays raised their target price on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Piper Sandler lifted their target price on shares of Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. The Goldman Sachs Group increased their price target on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a research note on Friday, March 1st. Citigroup initiated coverage on shares of Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Hormel Foods Trading Up 0.4 %

HRL stock traded up $0.14 during mid-day trading on Tuesday, hitting $35.56. 4,480,820 shares of the company were exchanged, compared to its average volume of 3,075,303. The business has a fifty day simple moving average of $34.09 and a 200-day simple moving average of $32.39. The firm has a market capitalization of $19.48 billion, a P/E ratio of 24.36, a PEG ratio of 3.41 and a beta of 0.27. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $41.73. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the company posted $0.40 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research 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. Shareholders of record on Monday, March 25th will be issued a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

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.