Hormel Foods Co. (NYSE:HRL) Shares Acquired by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC lifted its holdings in Hormel Foods Co. (NYSE:HRL) by 774.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,216 shares of the company’s stock after buying an additional 1,077 shares during the period. Capital Advisors Ltd. LLC’s holdings in Hormel Foods were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HRL. Norges Bank acquired a new stake in shares of Hormel Foods in the 4th quarter worth $62,323,000. Goldman Sachs Group Inc. raised its stake in Hormel Foods by 97.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock worth $93,151,000 after purchasing an additional 1,434,437 shares during the period. Vest Financial LLC boosted its holdings in Hormel Foods by 54.4% in the 4th quarter. Vest Financial LLC now owns 868,251 shares of the company’s stock valued at $27,880,000 after purchasing an additional 305,866 shares during the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Hormel Foods in the 3rd quarter valued at approximately $8,595,000. Finally, First Trust Advisors LP increased its holdings in shares of Hormel Foods by 8.2% during the 4th quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock worth $82,963,000 after buying an additional 196,460 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HRL shares. JPMorgan Chase & Co. upgraded Hormel Foods from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $28.00 to $29.00 in a report on Friday, May 31st. Stephens reaffirmed an “equal weight” rating and issued a $32.00 price target on shares of Hormel Foods in a research note on Friday, May 31st. Finally, Citigroup cut their price objective on Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.67.

Hormel Foods Price Performance

HRL opened at $30.55 on Wednesday. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.93 and a beta of 0.24. The company has a current ratio of 1.73, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $33.20 and its 200 day moving average price is $32.65. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $41.73.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts expect that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, July 15th. Hormel Foods’s dividend payout ratio is currently 80.71%.

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.