Yousif Capital Management LLC Has $6.60 Million Stake in Hormel Foods Co. (NYSE:HRL)

Yousif Capital Management LLC trimmed its position in shares of Hormel Foods Co. (NYSE:HRL) by 7.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 205,373 shares of the company’s stock after selling 16,351 shares during the period. Yousif Capital Management LLC’s holdings in Hormel Foods were worth $6,595,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its position in shares of Hormel Foods by 2.8% during the third quarter. Invesco Ltd. now owns 6,014,570 shares of the company’s stock worth $228,734,000 after purchasing an additional 165,563 shares during the period. Northern Trust Corp grew its holdings in Hormel Foods by 6.0% during the third quarter. Northern Trust Corp now owns 3,059,847 shares of the company’s stock worth $116,366,000 after buying an additional 172,110 shares in the last quarter. Stifel Financial Corp grew its holdings in Hormel Foods by 7.2% during the third quarter. Stifel Financial Corp now owns 2,510,004 shares of the company’s stock worth $95,455,000 after buying an additional 167,920 shares in the last quarter. Tandem Investment Advisors Inc. grew its holdings in Hormel Foods by 28.0% during the third quarter. Tandem Investment Advisors Inc. now owns 1,959,077 shares of the company’s stock worth $74,504,000 after buying an additional 428,100 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Hormel Foods by 4.8% during the fourth quarter. California Public Employees Retirement System now owns 1,775,780 shares of the company’s stock worth $57,020,000 after buying an additional 81,970 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Stock Down 0.9 %

HRL stock opened at $35.27 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.79 and a current ratio of 1.49. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 3.43 and a beta of 0.27. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $41.73. The stock has a fifty day moving average of $33.71 and a 200-day moving average of $32.41.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, equities research analysts predict that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be issued a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

Insider Buying and Selling

In related news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total transaction of $539,000.00. Following the sale, the vice president now owns 68,029 shares of the company’s stock, valued at approximately $2,381,015. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total transaction of $539,000.00. Following the sale, the vice president now owns 68,029 shares of the company’s stock, valued at approximately $2,381,015. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the transaction, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,800 shares of company stock valued at $1,414,872. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HRL shares. Barclays upped their price target on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. The Goldman Sachs Group upped their price target on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Citigroup started coverage on Hormel Foods in a research note on Thursday, February 1st. They issued a “neutral” rating and a $31.00 price objective for the company. 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 research note on Friday, March 1st. Finally, Piper Sandler upped their price objective on Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.00.

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.