Hormel Foods Co. (NYSE:HRL) Shares Purchased by Assetmark Inc.

Assetmark Inc. increased its stake in shares of Hormel Foods Co. (NYSE:HRL) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,082 shares of the company’s stock after purchasing an additional 1,855 shares during the quarter. Assetmark Inc.’s holdings in Hormel Foods were worth $2,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HRL. Janiczek Wealth Management LLC grew its stake in Hormel Foods by 100.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after purchasing an additional 1,033 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Hormel Foods by 21.1% during the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after buying an additional 361 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Hormel Foods by 516.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock worth $82,000 after buying an additional 2,133 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in Hormel Foods during the 4th quarter worth about $86,000. Finally, Covestor Ltd lifted its holdings in Hormel Foods by 23.7% during the 3rd quarter. Covestor Ltd now owns 2,927 shares of the company’s stock worth $111,000 after buying an additional 561 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays lifted their price target on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. JPMorgan Chase & Co. lifted their price target on Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. Citigroup initiated coverage on Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target for the company. Finally, The Goldman Sachs Group boosted their target price on Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.00.

Hormel Foods Stock Up 1.0 %

Hormel Foods stock opened at $35.11 on Friday. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $41.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.79 and a current ratio of 1.49. The company has a market capitalization of $19.23 billion, a P/E ratio of 24.05, a PEG ratio of 3.39 and a beta of 0.28. The stock has a 50-day simple moving average of $35.05 and a 200-day simple moving average of $32.83.

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

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, July 12th. Hormel Foods’s dividend payout ratio is presently 77.40%.

Insider Buying and Selling at Hormel Foods

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

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.