Creative Financial Designs Inc. ADV Purchases 4,785 Shares of Hormel Foods Co. (NYSE:HRL)

Creative Financial Designs Inc. ADV boosted its holdings in Hormel Foods Co. (NYSE:HRL) by 10.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 49,927 shares of the company’s stock after buying an additional 4,785 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Hormel Foods were worth $1,583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HRL. EverSource Wealth Advisors LLC grew its holdings in Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 647 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Hormel Foods in the second quarter worth about $34,000. Central Valley Advisors LLC purchased a new position in Hormel Foods in the second quarter worth about $37,000. GAMMA Investing LLC increased its stake in Hormel Foods by 516.9% during the third quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock worth $43,000 after acquiring an additional 1,132 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in Hormel Foods during the second quarter valued at approximately $42,000. 40.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HRL. Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $37.00 in a report on Tuesday, August 13th. BNP Paribas began coverage on Hormel Foods in a research note on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. Finally, Stephens initiated coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.57.

Insider Buying and Selling

In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the transaction, the executive vice president now directly owns 72,421 shares in the company, valued at $2,313,850.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the completion of the sale, the senior vice president now owns 39,050 shares of the company’s stock, valued at $1,276,935. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deanna T. Brady sold 51,600 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the transaction, the executive vice president now directly owns 72,421 shares in the company, valued at approximately $2,313,850.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,400 shares of company stock worth $2,288,338. Insiders own 0.69% of the company’s stock.

Hormel Foods Trading Up 1.2 %

Shares of Hormel Foods stock opened at $30.92 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $36.86. The firm has a market capitalization of $16.96 billion, a PE ratio of 21.77, a P/E/G ratio of 3.46 and a beta of 0.25. The firm’s 50-day moving average price is $31.61 and its 200 day moving average price is $32.25.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. On average, sell-side analysts predict that Hormel Foods Co. will post 1.58 EPS for the current fiscal year.

Hormel Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.282 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s dividend payout ratio is currently 79.58%.

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.