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

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

A number of other institutional investors and hedge funds also recently made changes to their positions in HRL. Sumitomo Mitsui Trust Group Inc. boosted its stake in Hormel Foods by 4.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,417 shares of the company's stock valued at $25,944,000 after buying an additional 34,589 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Hormel Foods by 13.1% in the 3rd quarter. Citigroup Inc. now owns 452,510 shares of the company's stock valued at $14,345,000 after purchasing an additional 52,457 shares in the last quarter. Grandfield & Dodd LLC grew its holdings in shares of Hormel Foods by 2.9% during the 3rd quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company's stock valued at $29,302,000 after purchasing an additional 26,390 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Hormel Foods by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company's stock worth $58,548,000 after purchasing an additional 66,261 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in Hormel Foods in the 3rd quarter valued at approximately $1,025,000. Institutional investors own 40.99% of the company's stock.

Insider Activity

In related news, VP Steven J. Lykken bought 4,904 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the transaction, the vice president now directly owns 7,100 shares of the company's stock, valued at approximately $230,537. The trade was a 223.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HRL. Stephens assumed coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They set an "equal weight" rating and a $31.00 price target for the company. BNP Paribas started coverage on Hormel Foods in a report on Monday, October 21st. They issued an "underperform" rating and a $28.00 target price for the company. Finally, Citigroup cut their price target 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $31.29.

Hormel Foods Trading Up 0.3 %

Shares of HRL traded up $0.10 during mid-day trading on Friday, reaching $31.68. 4,771,121 shares of the company were exchanged, compared to its average volume of 2,615,884. The business has a 50 day simple moving average of $31.35 and a two-hundred day simple moving average of $31.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The stock has a market capitalization of $17.39 billion, a PE ratio of 21.70, a PEG ratio of 3.14 and a beta of 0.26. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $36.86.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts predict that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, January 13th. This is a positive change from Hormel Foods's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.66%. Hormel Foods's dividend payout ratio (DPR) is 79.45%.

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.