Oak Thistle LLC Makes New $610,000 Investment in Hormel Foods Co. (NYSE:HRL)

Oak Thistle LLC bought a new position in Hormel Foods Co. (NYSE:HRL) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 17,493 shares of the company’s stock, valued at approximately $610,000.

Several other hedge funds have also made changes to their positions in HRL. CVA Family Office LLC bought a new position in shares of Hormel Foods in the 1st quarter worth $31,000. Register Financial Advisors LLC acquired a new position in Hormel Foods during the 1st quarter valued at about $42,000. Clarity Asset Management Inc. acquired a new position in Hormel Foods during the 4th quarter valued at about $54,000. Janiczek Wealth Management LLC increased its position 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 buying an additional 1,033 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Hormel Foods by 21.1% during the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after buying an additional 361 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Price Performance

HRL stock traded down $0.06 during mid-day trading on Monday, reaching $30.43. 2,159,422 shares of the company’s stock were exchanged, compared to its average volume of 2,896,961. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $41.73. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.93 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.73 and a quick ratio of 1.00. The stock’s 50 day moving average is $33.29 and its 200 day moving average is $32.66.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Hormel Foods had a return on equity of 11.31% and a net margin of 6.37%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts expect that Hormel Foods Co. will post 1.6 EPS for the current year.

Hormel Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.2825 dividend. This represents a $1.13 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, July 15th. Hormel Foods’s payout ratio is currently 80.71%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup reduced their target price on Hormel Foods from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Stephens reaffirmed an “equal weight” rating and set a $32.00 target price on shares of Hormel Foods in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $28.00 to $29.00 in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.67.

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.