Larson Financial Group LLC Has $355,000 Stock Position in Hormel Foods Co. (NYSE:HRL)

Larson Financial Group LLC cut its stake in shares of Hormel Foods Co. (NYSE:HRL) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,061 shares of the company’s stock after selling 1,054 shares during the period. Larson Financial Group LLC’s holdings in Hormel Foods were worth $355,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Janiczek Wealth Management LLC increased its holdings in Hormel Foods by 100.5% in 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. boosted its stake in shares of Hormel Foods by 21.1% during the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after purchasing an additional 361 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Hormel Foods by 516.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock worth $82,000 after purchasing an additional 2,133 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of Hormel Foods in the fourth quarter valued at approximately $86,000. Finally, Covestor Ltd increased its stake in shares of Hormel Foods by 23.7% in the third quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after buying an additional 561 shares during the period. 40.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Hormel Foods Stock Performance

Shares of HRL stock opened at $35.14 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $41.73. The firm has a 50 day moving average of $33.45 and a 200-day moving average of $32.37. The company has a market cap of $19.25 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 3.39 and a beta of 0.27.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the company posted $0.40 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts forecast that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be paid a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is currently 77.40%.

Analyst Ratings Changes

HRL has been the topic of a number of research reports. Citigroup assumed coverage on shares of Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Piper Sandler boosted their price target on shares of Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. The Goldman Sachs Group increased their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Finally, Barclays boosted their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.00.

Hormel Foods Company 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.