Linden Thomas Advisory Services LLC Purchases 920 Shares of Hormel Foods Co. (NYSE:HRL)

Linden Thomas Advisory Services LLC raised its stake in shares of Hormel Foods Co. (NYSE:HRL) by 5.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,590 shares of the company’s stock after acquiring an additional 920 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Hormel Foods were worth $533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janiczek Wealth Management LLC lifted its stake in Hormel Foods by 100.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after acquiring an additional 1,033 shares during the period. Federated Hermes Inc. lifted its stake in shares of Hormel Foods by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after purchasing an additional 361 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Hormel Foods by 516.5% in the 4th 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 period. RIA Advisory Group LLC bought a new position in shares of Hormel Foods in the 4th quarter worth approximately $86,000. Finally, Covestor Ltd lifted its stake in shares of Hormel Foods by 23.7% in the 3rd quarter. Covestor Ltd now owns 2,927 shares of the company’s stock worth $111,000 after purchasing an additional 561 shares during the period. Institutional investors own 40.99% of the company’s stock.

Insider Activity at Hormel Foods

In related news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,381,015. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,381,015. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the sale, the senior vice president now 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 ninety days, insiders sold 40,800 shares of company stock valued at $1,414,872. 0.69% of the stock is owned by corporate insiders.

Hormel Foods Trading Down 0.9 %

Shares of HRL opened at $35.27 on Friday. The company has a 50 day simple moving average of $33.71 and a two-hundred day simple moving average of $32.41. Hormel Foods Co. has a 1 year low of $28.51 and a 1 year high of $41.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 0.79. The firm has a market cap of $19.32 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 3.43 and a beta of 0.27.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the firm posted $0.40 earnings per share. Hormel Foods’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts expect that Hormel Foods Co. will post 1.59 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be issued a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HRL. 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 note on Friday, March 1st. Citigroup initiated coverage on shares of Hormel Foods in a report on Thursday, February 1st. They issued a “neutral” rating and a $31.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. Piper Sandler increased their target price on shares of Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Finally, Barclays increased their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.