Spearhead Capital Advisors LLC boosted its holdings in Hormel Foods Corp (NYSE:HRL) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,978 shares of the company’s stock after purchasing an additional 6,100 shares during the quarter. Spearhead Capital Advisors LLC’s holdings in Hormel Foods were worth $5,096,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vigilant Capital Management LLC acquired a new stake in Hormel Foods in the 4th quarter worth about $41,000. Enterprise Financial Services Corp raised its position in shares of Hormel Foods by 53.6% in the 4th quarter. Enterprise Financial Services Corp now owns 1,619 shares of the company’s stock valued at $73,000 after buying an additional 565 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Hormel Foods by 50.8% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,554 shares of the company’s stock valued at $115,000 after buying an additional 860 shares in the last quarter. Rational Advisors LLC acquired a new position in shares of Hormel Foods in the 3rd quarter valued at approximately $118,000. Finally, Huntington National Bank raised its position in shares of Hormel Foods by 9.9% in the 3rd quarter. Huntington National Bank now owns 2,967 shares of the company’s stock valued at $130,000 after buying an additional 267 shares in the last quarter. Institutional investors and hedge funds own 43.55% of the company’s stock.
In other Hormel Foods news, Director Elsa A. Murano sold 4,519 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $44.70, for a total transaction of $201,999.30. Following the sale, the director now directly owns 101,067 shares of the company’s stock, valued at approximately $4,517,694.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lori J. Marco sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $45.08, for a total transaction of $495,880.00. Following the sale, the vice president now directly owns 36,178 shares in the company, valued at $1,630,904.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,460 shares of company stock valued at $5,304,877. 1.15% of the stock is owned by corporate insiders.
Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Tuesday, November 26th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Hormel Foods had a net margin of 10.31% and a return on equity of 16.14%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. Research analysts expect that Hormel Foods Corp will post 1.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a dividend of $0.2325 per share. This represents a $0.93 dividend on an annualized basis and a yield of 1.91%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, January 10th. Hormel Foods’s dividend payout ratio is currently 53.45%.
Several brokerages have recently commented on HRL. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a research report on Wednesday, November 27th. Bank of America began coverage on shares of Hormel Foods in a research report on Friday, October 25th. They issued an “underperform” rating and a $40.00 target price for the company. ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Stephens restated a “hold” rating and issued a $43.00 target price (up from $37.00) on shares of Hormel Foods in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.90.
Hormel Foods 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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