Hormel Foods Co. (NYSE:HRL) Shares Bought by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC grew its holdings in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 9.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 316,749 shares of the company's stock after acquiring an additional 26,226 shares during the period. WealthPlan Investment Management LLC owned about 0.06% of Hormel Foods worth $10,041,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HRL. Envestnet Portfolio Solutions Inc. boosted its holdings in Hormel Foods by 38.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,338 shares of the company's stock worth $2,280,000 after acquiring an additional 17,995 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Hormel Foods by 14.4% in the first quarter. Empowered Funds LLC now owns 56,901 shares of the company's stock worth $1,985,000 after purchasing an additional 7,157 shares during the period. SG Americas Securities LLC grew its holdings in shares of Hormel Foods by 98.0% during the first quarter. SG Americas Securities LLC now owns 65,863 shares of the company's stock worth $2,298,000 after purchasing an additional 32,593 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Hormel Foods by 15.6% during the 1st quarter. Russell Investments Group Ltd. now owns 127,684 shares of the company's stock worth $4,454,000 after acquiring an additional 17,199 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Hormel Foods by 6.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,267 shares of the company's stock worth $637,000 after purchasing an additional 1,091 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HRL. Citigroup raised Hormel Foods from a "neutral" rating to a "buy" rating and increased their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, August 13th. BNP Paribas assumed coverage on shares of Hormel Foods in a report on Monday, October 21st. They set an "underperform" rating and a $28.00 target price for the company. Finally, Stephens assumed coverage on Hormel Foods in a report on Thursday, October 3rd. They issued an "equal weight" rating and a $31.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.57.

Insider Transactions at Hormel Foods

In related news, EVP Deanna T. Brady sold 51,600 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the transaction, the executive vice president now directly owns 72,421 shares of the company's stock, valued at $2,313,850.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Kevin L. Myers sold 10,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the transaction, the senior vice president now owns 39,050 shares in the company, valued at $1,276,935. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the sale, the executive vice president now directly owns 72,421 shares of the company's stock, valued at approximately $2,313,850.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock valued at $2,288,338 in the last quarter. 0.69% of the stock is currently owned by corporate insiders.

Hormel Foods Trading Up 0.5 %

Shares of NYSE HRL traded up $0.15 during trading hours on Tuesday, hitting $30.51. 395,554 shares of the company traded hands, compared to its average volume of 2,579,109. The company's 50 day moving average price is $31.40 and its 200 day moving average price is $32.04. The stock has a market capitalization of $16.73 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 3.21 and a beta of 0.26. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $36.86.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. On average, equities research analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.282 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.13 annualized dividend and a dividend yield of 3.70%. Hormel Foods's dividend payout ratio is presently 79.58%.

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.