Tidal Investments LLC Sells 16,298 Shares of Hormel Foods Co. (NYSE:HRL)

Tidal Investments LLC lowered its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 36.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,857 shares of the company's stock after selling 16,298 shares during the period. Tidal Investments LLC's holdings in Hormel Foods were worth $915,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Hormel Foods in the 3rd quarter worth about $32,000. International Assets Investment Management LLC purchased a new position in shares of Hormel Foods in the second quarter worth approximately $34,000. Prospera Private Wealth LLC acquired a new stake in shares of Hormel Foods during the third quarter valued at approximately $39,000. GAMMA Investing LLC lifted its position in shares of Hormel Foods by 516.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company's stock valued at $43,000 after acquiring an additional 1,132 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in Hormel Foods in the 2nd quarter worth approximately $42,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup reduced their target price on Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. BNP Paribas assumed coverage on Hormel Foods in a research note on Monday, October 21st. They issued an "underperform" rating and a $28.00 price objective for the company. Finally, Stephens assumed coverage on Hormel Foods in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $31.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Hormel Foods has an average rating of "Hold" and a consensus price target of $31.29.

Hormel Foods Stock Up 0.3 %

Shares of Hormel Foods stock traded up $0.10 during trading on Friday, hitting $31.68. 4,771,121 shares of the stock traded hands, compared to its average volume of 2,615,884. The company has a fifty day moving average price of $31.35 and a two-hundred day moving average price of $31.42. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $36.86. The stock has a market cap of $17.39 billion, a P/E ratio of 21.70, a PEG ratio of 3.14 and a beta of 0.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its earnings results on Wednesday, December 4th. The company reported $0.42 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 business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The business's revenue was down 1.9% on a year-over-year basis. Equities research analysts predict that Hormel Foods Co. will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, January 13th. This is an increase from Hormel Foods's previous quarterly dividend of $0.28. Hormel Foods's dividend payout ratio is 79.45%.

Insider Activity

In other news, VP Steven J. Lykken bought 4,904 shares of the business's stock in a transaction on Friday, December 6th. The stock was purchased at an average price of $32.47 per share, with a total value of $159,232.88. Following the transaction, the vice president now directly owns 7,100 shares in the company, valued at approximately $230,537. The trade was a 223.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by insiders.

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.