HB Wealth Management LLC Has $773,000 Holdings in Hormel Foods Co. (NYSE:HRL)

HB Wealth Management LLC grew its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 5.4% in the 4th quarter, Holdings Channel reports. The fund owned 24,642 shares of the company’s stock after buying an additional 1,267 shares during the period. HB Wealth Management LLC’s holdings in Hormel Foods were worth $773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HRL. Brooklyn Investment Group acquired a new position in Hormel Foods during the 3rd quarter worth approximately $32,000. Prospera Private Wealth LLC acquired a new position in shares of Hormel Foods during the third quarter worth $39,000. GAMMA Investing LLC increased its holdings in shares of Hormel Foods by 516.9% during the third quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock worth $43,000 after buying an additional 1,132 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Hormel Foods during the 3rd quarter valued at $47,000. Finally, McIlrath & Eck LLC grew its position in Hormel Foods by 47.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock worth $63,000 after acquiring an additional 638 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Insider Buying and Selling at Hormel Foods

In related news, VP Steven J. Lykken bought 4,904 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the transaction, the vice president now directly owns 7,100 shares of the company’s stock, valued at approximately $230,537. The trade was a 223.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

HRL has been the subject of several research reports. Barclays increased their target price on Hormel Foods from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday. Stephens started 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 on the stock. Citigroup reduced their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Finally, BNP Paribas initiated coverage on shares of Hormel Foods in a research note on Monday, October 21st. They set an “underperform” rating and a $28.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.17.

Hormel Foods Stock Up 3.0 %

Hormel Foods stock opened at $30.82 on Wednesday. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.80 and a beta of 0.26. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The firm has a 50 day moving average price of $31.27 and a two-hundred day moving average price of $31.47.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. Hormel Foods’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts predict that Hormel Foods Co. will post 1.67 EPS for the current year.

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be issued a $0.29 dividend. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s payout ratio is presently 79.45%.

Hormel Foods 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.