Hormel Foods Co. (NYSE:HRL) Shares Bought by Y.D. More Investments Ltd

Y.D. More Investments Ltd grew its stake in Hormel Foods Co. (NYSE:HRL) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,097 shares of the company’s stock after acquiring an additional 423 shares during the quarter. Y.D. More Investments Ltd’s holdings in Hormel Foods were worth $97,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Truist Financial Corp increased its position in Hormel Foods by 110.8% during the second quarter. Truist Financial Corp now owns 37,228 shares of the company’s stock worth $1,135,000 after purchasing an additional 19,571 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Hormel Foods in the 2nd quarter valued at approximately $272,000. Czech National Bank increased its holdings in shares of Hormel Foods by 7.0% during the 3rd quarter. Czech National Bank now owns 59,198 shares of the company’s stock worth $1,877,000 after buying an additional 3,884 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Hormel Foods by 516.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after buying an additional 1,132 shares during the period. Finally, CWM LLC lifted its holdings in Hormel Foods by 2.8% in the third quarter. CWM LLC now owns 486,932 shares of the company’s stock valued at $15,436,000 after acquiring an additional 13,200 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hormel Foods

In other news, VP Steven J. Lykken bought 4,904 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the purchase, the vice president now owns 7,100 shares of the company’s stock, valued at approximately $230,537. This represents a 223.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $29.27 on Thursday. 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 $16.07 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.82 and a beta of 0.26. The business has a 50-day moving average of $31.28 and a 200 day moving average of $31.42. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $36.86.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. As a group, sell-side analysts forecast that Hormel Foods Co. will post 1.66 earnings per share for the current year.

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be paid a $0.29 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s dividend payout ratio (DPR) is presently 79.45%.

Analyst Ratings Changes

Several research firms have issued reports on HRL. BNP Paribas started coverage on Hormel Foods in a research note on Monday, October 21st. They set an “underperform” rating and a $28.00 target price for the company. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Citigroup dropped their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.17.

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.