4,632 Shares in Hormel Foods Co. (NYSE:HRL) Purchased by Castleview Partners LLC

Castleview Partners LLC bought a new stake in Hormel Foods Co. (NYSE:HRL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,632 shares of the company’s stock, valued at approximately $147,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HRL. CHICAGO TRUST Co NA purchased a new position in Hormel Foods in the 1st quarter valued at approximately $213,000. Gateway Investment Advisers LLC increased its position in shares of Hormel Foods by 100.7% in the first quarter. Gateway Investment Advisers LLC now owns 85,660 shares of the company’s stock valued at $2,989,000 after buying an additional 42,972 shares in the last quarter. Exeter Financial LLC raised its stake in shares of Hormel Foods by 99.3% during the 1st quarter. Exeter Financial LLC now owns 12,482 shares of the company’s stock worth $439,000 after buying an additional 6,219 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Hormel Foods in the 1st quarter worth about $42,000. Finally, Oak Thistle LLC acquired a new stake in Hormel Foods in the 1st quarter valued at about $610,000. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the transaction, the vice president now owns 30,589 shares of the company’s stock, valued at $976,094.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Steven J. Lykken sold 9,800 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $31.91, for a total transaction of $312,718.00. Following the completion of the sale, the vice president now directly owns 30,589 shares in the company, valued at $976,094.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction on Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the transaction, the executive vice president now owns 72,421 shares in the company, valued at $2,313,850.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,400 shares of company stock valued at $2,288,338. Insiders own 0.69% of the company’s stock.

Hormel Foods Stock Down 2.7 %

Shares of NYSE HRL opened at $31.32 on Tuesday. The firm has a market cap of $17.17 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 3.06 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. Hormel Foods Co. has a 1 year low of $28.51 and a 1 year high of $36.86. The firm’s 50 day moving average price is $31.84 and its 200 day moving average price is $32.46.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Hormel Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.282 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.13 annualized dividend and a dividend yield of 3.60%. Hormel Foods’s payout ratio is currently 80.71%.

Wall Street Analysts Forecast Growth

HRL has been the subject of a number of research reports. Stephens initiated coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price for the company. Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $37.00 in a research report on Tuesday, August 13th. Finally, BNP Paribas began coverage on Hormel Foods in a report on Monday. They set an “underperform” rating and a $28.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.57.

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.