Benedict Financial Advisors Inc. Reduces Position in Hormel Foods Co. (NYSE:HRL)

Benedict Financial Advisors Inc. decreased its holdings in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 59.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,053 shares of the company's stock after selling 16,258 shares during the period. Benedict Financial Advisors Inc.'s holdings in Hormel Foods were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Greenleaf Trust lifted its stake in Hormel Foods by 4.4% in the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company's stock valued at $252,000 after buying an additional 336 shares during the last quarter. Empower Advisory Group LLC raised its holdings in shares of Hormel Foods by 3.7% in the 3rd quarter. Empower Advisory Group LLC now owns 9,649 shares of the company's stock worth $306,000 after purchasing an additional 342 shares during the period. CFS Investment Advisory Services LLC raised its holdings in shares of Hormel Foods by 2.8% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company's stock worth $422,000 after purchasing an additional 360 shares during the period. New Century Financial Group LLC raised its holdings in shares of Hormel Foods by 6.2% during the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company's stock valued at $211,000 after buying an additional 392 shares during the period. Finally, MML Investors Services LLC grew its stake in Hormel Foods by 4.8% during the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company's stock valued at $289,000 after purchasing an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Down 1.6 %

Shares of NYSE HRL traded down $0.45 during mid-day trading on Wednesday, hitting $28.55. The company had a trading volume of 2,661,197 shares, compared to its average volume of 2,813,711. Hormel Foods Co. has a one year low of $28.51 and a one year high of $36.86. The company has a market capitalization of $15.67 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.74 and a beta of 0.26. The firm has a 50-day simple moving average of $30.99 and a two-hundred day simple moving average of $31.34. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $0.42 earnings per share. The company's revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Hormel Foods Co. will post 1.66 EPS for the current year.

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.06%. This is an increase from Hormel Foods's previous quarterly dividend of $0.28. The ex-dividend date is Monday, January 13th. Hormel Foods's dividend payout ratio is presently 79.45%.

Insider Activity at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken purchased 4,904 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $32.47 per share, with a total value of $159,232.88. Following the transaction, the vice president now owns 7,100 shares in the company, valued at $230,537. The trade was a 223.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HRL shares. BNP Paribas began coverage on Hormel Foods in a report on Monday, October 21st. They issued an "underperform" rating and a $28.00 price target on the stock. Citigroup lowered their target price on Hormel Foods from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, November 19th. Finally, Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $31.17.

Hormel Foods 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.