Amalgamated Bank Has $2.79 Million Holdings in Hormel Foods Co. (NYSE:HRL)

Amalgamated Bank reduced its position in shares of Hormel Foods Co. (NYSE:HRLFree Report) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,415 shares of the company’s stock after selling 1,143 shares during the quarter. Amalgamated Bank’s holdings in Hormel Foods were worth $2,792,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HRL. Janiczek Wealth Management LLC raised its position in shares of Hormel Foods by 62.9% in the third quarter. Janiczek Wealth Management LLC now owns 1,028 shares of the company’s stock valued at $39,000 after purchasing an additional 397 shares during the period. Point72 Hong Kong Ltd bought a new position in Hormel Foods during the first quarter worth about $41,000. Massmutual Trust Co. FSB ADV increased its position in Hormel Foods by 43.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,276 shares of the company’s stock worth $51,000 after acquiring an additional 389 shares during the period. Iron Horse Wealth Management LLC increased its position in Hormel Foods by 219.8% during the second quarter. Iron Horse Wealth Management LLC now owns 1,420 shares of the company’s stock worth $57,000 after acquiring an additional 976 shares during the period. Finally, Lindbrook Capital LLC increased its position in Hormel Foods by 721.6% during the second quarter. Lindbrook Capital LLC now owns 1,791 shares of the company’s stock worth $72,000 after acquiring an additional 1,573 shares during the period. 41.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Hormel Foods from $29.00 to $26.00 and set a “sell” rating on the stock in a research report on Thursday, November 30th. JPMorgan Chase & Co. reduced their price objective on shares of Hormel Foods from $36.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, October 16th. Citigroup assumed coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, Piper Sandler increased their price objective on shares of Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.50.

View Our Latest Stock Analysis on Hormel Foods

Hormel Foods Stock Down 1.4 %

NYSE:HRL opened at $29.06 on Friday. The firm’s 50 day simple moving average is $31.34 and its 200 day simple moving average is $34.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.70. Hormel Foods Co. has a one year low of $28.97 and a one year high of $46.04. The company has a market cap of $15.89 billion, a PE ratio of 19.90, a P/E/G ratio of 3.99 and a beta of 0.24.

Hormel Foods (NYSE:HRLGet Free Report) last posted its earnings results on Wednesday, November 29th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Hormel Foods had a return on equity of 11.47% and a net margin of 6.55%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts anticipate that Hormel Foods Co. will post 1.57 earnings per share for the current year.

Hormel Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be paid a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. Hormel Foods’s payout ratio is 77.40%.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, EVP Deanna T. Brady sold 5,024 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $31.48, for a total transaction of $158,155.52. Following the completion of the sale, the executive vice president now owns 71,567 shares in the company, valued at approximately $2,252,929.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hormel Foods news, EVP Deanna T. Brady sold 5,024 shares of Hormel Foods stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $31.48, for a total transaction of $158,155.52. Following the transaction, the executive vice president now directly owns 71,567 shares of the company’s stock, valued at approximately $2,252,929.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan K. Nestegard sold 8,105 shares of Hormel Foods stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $31.78, for a total transaction of $257,576.90. Following the transaction, the director now directly owns 92,615 shares in the company, valued at $2,943,304.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,021 shares of company stock worth $886,454. 0.69% of the stock is owned by corporate insiders.

About Hormel Foods

(Free Report)

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.

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

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