Cwm LLC Has $14.55 Million Stake in Hormel Foods Co. (NYSE:HRL)

Cwm LLC decreased its position in shares of Hormel Foods Co. (NYSE:HRL) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,026 shares of the company’s stock after selling 22,509 shares during the quarter. Cwm LLC owned approximately 0.08% of Hormel Foods worth $14,547,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HRL. Vanguard Group Inc. lifted its holdings in Hormel Foods by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 33,500,871 shares of the company’s stock worth $1,726,636,000 after buying an additional 547,495 shares during the period. State Street Corp lifted its holdings in Hormel Foods by 2.6% during the 1st quarter. State Street Corp now owns 26,864,250 shares of the company’s stock worth $1,071,346,000 after buying an additional 685,894 shares during the period. Geode Capital Management LLC lifted its holdings in Hormel Foods by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 6,310,807 shares of the company’s stock worth $251,121,000 after buying an additional 144,364 shares during the period. Invesco Ltd. lifted its holdings in Hormel Foods by 2.8% during the 3rd quarter. Invesco Ltd. now owns 6,014,570 shares of the company’s stock worth $228,734,000 after buying an additional 165,563 shares during the period. Finally, Morgan Stanley lifted its holdings in Hormel Foods by 26.3% during the 4th quarter. Morgan Stanley now owns 3,970,027 shares of the company’s stock worth $180,835,000 after buying an additional 826,681 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

HRL has been the topic of several recent research reports. Piper Sandler lifted their target price on Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. The Goldman Sachs Group lifted their price objective on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Citigroup assumed coverage on Hormel Foods in a research report on Thursday, February 1st. They issued a “neutral” rating and a $31.00 price objective for the company. Finally, Barclays lifted their price objective on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.00.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $34.74 on Monday. Hormel Foods Co. has a one year low of $28.51 and a one year high of $41.73. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 3.35 and a beta of 0.27. The business has a 50-day simple moving average of $33.21 and a 200 day simple moving average of $32.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 0.79.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, February 29th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, research analysts anticipate that Hormel Foods Co. will post 1.59 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be given a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Friday, April 12th. Hormel Foods’s payout ratio is 77.40%.

Insider Activity at Hormel Foods

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.18, for a total transaction of $526,372.00. Following the completion of the transaction, the vice president now owns 68,029 shares in the company, valued at approximately $2,325,231.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the transaction, the senior vice president now owns 38,708 shares in the company, valued at approximately $1,352,844.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the transaction, the vice president now owns 68,029 shares of the company’s stock, valued at approximately $2,325,231.22. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock valued at $1,414,872 in the last three months. Corporate insiders own 0.69% of the company’s stock.

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.