Hormel Foods Co. (NYSE:HRL) Shares Bought by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. grew its holdings in Hormel Foods Co. (NYSE:HRL) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,278 shares of the company’s stock after purchasing an additional 7,377 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Hormel Foods were worth $3,616,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in Hormel Foods by 2.5% in the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company’s stock valued at $794,659,000 after buying an additional 617,308 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hormel Foods by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company’s stock valued at $232,646,000 after acquiring an additional 120,212 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Hormel Foods by 5.2% during the third quarter. Stifel Financial Corp now owns 3,267,186 shares of the company’s stock valued at $103,570,000 after acquiring an additional 162,577 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Hormel Foods by 56.0% during the third quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock valued at $70,934,000 after acquiring an additional 802,816 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Hormel Foods by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock worth $58,548,000 after purchasing an additional 66,261 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Hormel Foods news, VP Steven J. Lykken bought 4,904 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $32.47 per share, with a total value of $159,232.88. Following the transaction, the vice president now owns 7,100 shares in the company, valued at $230,537. This trade represents a 223.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HRL. Citigroup reduced their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Stephens reissued an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday. Finally, Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.17.

Hormel Foods Price Performance

HRL opened at $28.82 on Friday. Hormel Foods Co. has a 1 year low of $28.03 and a 1 year high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The company’s 50 day simple moving average is $30.46 and its 200 day simple moving average is $31.18. The stock has a market capitalization of $15.82 billion, a PE ratio of 19.74, a P/E/G ratio of 2.67 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, sell-side analysts expect that Hormel Foods Co. will post 1.65 EPS for the current year.

Hormel Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.03%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, January 13th. Hormel Foods’s dividend payout ratio (DPR) is 79.45%.

About Hormel Foods

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.