IAG Wealth Partners LLC Reduces Stake in Hormel Foods Co. (NYSE:HRL)

IAG Wealth Partners LLC lowered its holdings in Hormel Foods Co. (NYSE:HRL) by 29.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,514 shares of the company’s stock after selling 630 shares during the quarter. IAG Wealth Partners LLC’s holdings in Hormel Foods were worth $49,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC lifted its stake in shares of Hormel Foods by 417.6% in the 3rd quarter. Avior Wealth Management LLC now owns 5,673 shares of the company’s stock valued at $216,000 after purchasing an additional 4,577 shares during the period. Exchange Traded Concepts LLC raised its stake in Hormel Foods by 55.0% during the third quarter. Exchange Traded Concepts LLC now owns 21,394 shares of the company’s stock valued at $814,000 after buying an additional 7,587 shares during the last quarter. Czech National Bank raised its stake in Hormel Foods by 47.6% during the third quarter. Czech National Bank now owns 50,603 shares of the company’s stock valued at $1,924,000 after buying an additional 16,313 shares during the last quarter. JGP Wealth Management LLC raised its stake in Hormel Foods by 10.3% during the third quarter. JGP Wealth Management LLC now owns 131,815 shares of the company’s stock valued at $5,013,000 after buying an additional 12,266 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in Hormel Foods by 6.9% during the third quarter. Linden Thomas Advisory Services LLC now owns 15,670 shares of the company’s stock valued at $596,000 after buying an additional 1,016 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 0.1 %

Shares of Hormel Foods stock traded up $0.05 on Friday, reaching $35.32. The company’s stock had a trading volume of 2,088,175 shares, compared to its average volume of 2,357,894. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.40 and a beta of 0.27. The firm’s fifty day simple moving average is $33.84 and its two-hundred day simple moving average is $32.41. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $41.73. 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 (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. Hormel Foods’s revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s payout ratio is currently 77.40%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, 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 completion of the sale, the senior vice president now owns 38,708 shares of the company’s stock, valued at $1,352,844.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total value of $349,500.00. Following the completion of the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the transaction, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,325,231.22. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock valued at $1,414,872 over the last 90 days. Company insiders own 0.69% of the company’s stock.

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.