4,257 Shares in Hormel Foods Co. (NYSE:HRL) Acquired by Kennebec Savings Bank

Kennebec Savings Bank acquired a new position in Hormel Foods Co. (NYSE:HRL) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,257 shares of the company’s stock, valued at approximately $135,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in Hormel Foods by 688.3% in the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 647 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Hormel Foods in the 2nd quarter valued at $34,000. Central Valley Advisors LLC purchased a new position in Hormel Foods in the 2nd quarter worth about $37,000. Sentry Investment Management LLC purchased a new stake in Hormel Foods during the second quarter valued at about $42,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Hormel Foods by 516.9% in the third quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock worth $43,000 after buying an additional 1,132 shares during the period. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Trading Up 0.2 %

Shares of Hormel Foods stock opened at $30.32 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The company’s fifty day moving average price is $31.44 and its two-hundred day moving average price is $32.10. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $36.86. The firm has a market capitalization of $16.63 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 3.21 and a beta of 0.26.

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

Hormel Foods Cuts Dividend

The business also recently declared 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 3.72%. The ex-dividend date is Tuesday, October 15th. Hormel Foods’s dividend payout ratio is currently 79.58%.

Insiders Place Their Bets

In related news, VP Steven J. Lykken sold 9,800 shares of Hormel Foods stock in a transaction on Friday, September 27th. The stock was sold at an average price of $31.91, for a total transaction of $312,718.00. Following the completion of the sale, the vice president now directly owns 30,589 shares of the company’s stock, valued at $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the completion of the transaction, the vice president now owns 30,589 shares in the company, valued at approximately $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin L. Myers sold 10,000 shares of the 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 in the company, valued at approximately $1,276,935. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,400 shares of company stock valued at $2,288,338. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

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

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.