Dividend Assets Capital LLC Has $563,000 Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Dividend Assets Capital LLC trimmed its holdings in Hormel Foods Co. (NYSE:HRL) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,205 shares of the company’s stock after selling 3,074 shares during the period. Dividend Assets Capital LLC’s holdings in Hormel Foods were worth $563,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HRL. D.A. Davidson & CO. boosted its holdings in shares of Hormel Foods by 10.4% during the 4th quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock worth $311,000 after buying an additional 934 shares during the period. US Bancorp DE boosted its holdings in shares of Hormel Foods by 3.4% during the fourth quarter. US Bancorp DE now owns 626,360 shares of the company’s stock worth $19,649,000 after acquiring an additional 20,514 shares during the period. Aviva PLC grew its position in shares of Hormel Foods by 58.9% in the fourth quarter. Aviva PLC now owns 313,619 shares of the company’s stock valued at $9,838,000 after purchasing an additional 116,304 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Hormel Foods by 33.9% during the fourth quarter. Stifel Financial Corp now owns 4,374,456 shares of the company’s stock worth $137,227,000 after purchasing an additional 1,107,270 shares during the period. Finally, DnB Asset Management AS lifted its holdings in Hormel Foods by 14.7% during the 4th quarter. DnB Asset Management AS now owns 71,010 shares of the company’s stock worth $2,228,000 after purchasing an additional 9,120 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

NYSE HRL opened at $31.18 on Tuesday. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $33.80. The company’s 50 day simple moving average is $30.02 and its two-hundred day simple moving average is $30.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock has a market capitalization of $17.14 billion, a PE ratio of 21.35, a P/E/G ratio of 2.73 and a beta of 0.33.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, May 29th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts predict that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, July 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.72%. Hormel Foods’s dividend payout ratio (DPR) is presently 85.29%.

Insider Activity

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of the sale, the director now owns 95,488 shares of the company’s stock, valued at $2,902,835.20. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of research reports. BNP Paribas raised Hormel Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 27th. Stephens reissued an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report on Thursday, May 22nd. Bank of America upgraded Hormel Foods from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $29.00 to $35.00 in a research report on Tuesday, April 15th. Finally, BNP Paribas Exane upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 price objective for the company in a research report on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.50.

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.