4,044 Shares in Hormel Foods Co. (NYSE:HRL) Bought by Prospera Financial Services Inc

Prospera Financial Services Inc purchased a new position in shares of Hormel Foods Co. (NYSE:HRLGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,044 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors have also bought and sold shares of HRL. International Assets Investment Management LLC bought a new position in Hormel Foods in the 4th quarter valued at $54,000. Commonwealth Equity Services LLC grew its stake in Hormel Foods by 0.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 150,023 shares of the company’s stock valued at $7,322,000 after purchasing an additional 872 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Hormel Foods by 3.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 179,147 shares of the company’s stock valued at $8,744,000 after purchasing an additional 6,424 shares during the period. Vestmark Advisory Solutions Inc. grew its stake in Hormel Foods by 15.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 6,415 shares of the company’s stock valued at $313,000 after purchasing an additional 845 shares during the period. Finally, D.A. Davidson & CO. bought a new position in Hormel Foods in the 4th quarter valued at $509,000. Institutional investors own 41.06% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL opened at $49.35 on Thursday. The stock’s 50-day simple moving average is $47.21 and its 200 day simple moving average is $49.20. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 3.38 and a beta of 0.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.20 and a current ratio of 2.28. Hormel Foods Co. has a 52-week low of $40.48 and a 52-week high of $55.11.

Hormel Foods (NYSE:HRLGet Rating) last issued its quarterly earnings data on Thursday, June 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Hormel Foods had a return on equity of 14.10% and a net margin of 7.70%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. Research analysts forecast that Hormel Foods Co. will post 1.87 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 11th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, July 8th. This represents a $1.04 dividend on an annualized basis and a yield of 2.11%. Hormel Foods’s dividend payout ratio (DPR) is 59.43%.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of recent analyst reports. Credit Suisse Group reduced their price objective on Hormel Foods to $44.00 in a research note on Friday, June 3rd. Piper Sandler dropped their price target on Hormel Foods to $48.00 in a research report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.83.

Insider Buying and Selling

In other Hormel Foods news, Director Christopher J. Policinski sold 2,110 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total value of $97,629.70. Following the sale, the director now owns 85,254 shares of the company’s stock, valued at approximately $3,944,702.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Hormel Foods news, Director Christopher J. Policinski sold 2,110 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total value of $97,629.70. Following the sale, the director now owns 85,254 shares of the company’s stock, valued at approximately $3,944,702.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin L. Myers sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $45.07, for a total value of $225,350.00. Following the completion of the sale, the senior vice president now directly owns 32,869 shares in the company, valued at approximately $1,481,405.83. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

Hormel Foods Profile

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Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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