Hormel Foods Co. (NYSE:HRL) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC trimmed its holdings in Hormel Foods Co. (NYSE:HRL) by 52.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,307 shares of the company’s stock after selling 9,303 shares during the quarter. Larson Financial Group LLC’s holdings in Hormel Foods were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in HRL. EverSource Wealth Advisors LLC lifted its stake in Hormel Foods by 688.3% during the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 647 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Hormel Foods during the 2nd quarter worth $34,000. Central Valley Advisors LLC bought a new stake in shares of Hormel Foods during the 2nd quarter worth $37,000. Prospera Private Wealth LLC acquired a new position in shares of Hormel Foods in the 3rd quarter worth $39,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Hormel Foods during the second quarter worth $42,000. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of HRL opened at $31.91 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The company has a market capitalization of $17.50 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 3.33 and a beta of 0.26. The business’s 50-day moving average is $31.00 and its 200-day moving average is $31.66. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $36.86.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts expect that Hormel Foods Co. will post 1.58 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be given a $0.29 dividend. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s dividend payout ratio is presently 79.58%.

Insider Transactions at Hormel Foods

In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the transaction, the executive vice president now directly owns 72,421 shares in the company, valued at $2,313,850.95. This trade represents a 41.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the completion of the sale, the vice president now directly owns 30,589 shares of the company’s stock, valued at $976,094.99. This represents a 24.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock valued at $2,288,338 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of recent analyst reports. Stephens began coverage on Hormel Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price target for the company. Citigroup decreased their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, BNP Paribas assumed coverage on shares of Hormel Foods in a report on Monday, October 21st. They set an “underperform” rating and a $28.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.29.

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.