Fiduciary Alliance LLC Acquires 53,395 Shares of Hormel Foods Corporation $HRL

Fiduciary Alliance LLC raised its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 45.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,720 shares of the company’s stock after acquiring an additional 53,395 shares during the quarter. Fiduciary Alliance LLC’s holdings in Hormel Foods were worth $3,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HRL. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Hormel Foods by 5.0% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company’s stock worth $213,000 after acquiring an additional 431 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Hormel Foods by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 55,180 shares of the company’s stock valued at $1,308,000 after purchasing an additional 437 shares in the last quarter. Advisory Alpha LLC grew its stake in Hormel Foods by 2.9% in the fourth quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock valued at $367,000 after purchasing an additional 440 shares during the last quarter. Vermillion Wealth Management Inc. raised its holdings in Hormel Foods by 1.7% in the fourth quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company’s stock worth $615,000 after purchasing an additional 441 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in Hormel Foods by 6.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 8,583 shares of the company’s stock worth $203,000 after purchasing an additional 483 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 3.3%

Hormel Foods stock opened at $25.52 on Thursday. The stock has a 50-day moving average of $22.14 and a two-hundred day moving average of $23.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. Hormel Foods Corporation has a one year low of $19.70 and a one year high of $31.86. The stock has a market cap of $14.05 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.84 and a beta of 0.35.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Hormel Foods Corporation will post 1.5 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be paid a $0.2925 dividend. The ex-dividend date is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a yield of 4.6%. Hormel Foods’s dividend payout ratio (DPR) is 137.65%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HRL shares. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Stephens raised their target price on shares of Hormel Foods from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Finally, Bank of America lifted their price target on shares of Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $25.67.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.