Hormel Foods Co. (NYSE:HRL) Position Lessened by Toth Financial Advisory Corp

Toth Financial Advisory Corp reduced its stake in shares of Hormel Foods Co. (NYSE:HRL) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,879 shares of the company’s stock after selling 1,511 shares during the quarter. Toth Financial Advisory Corp’s holdings in Hormel Foods were worth $1,359,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Castleview Partners LLC bought a new position in shares of Hormel Foods during the third quarter worth about $147,000. Koss Olinger Consulting LLC raised its holdings in shares of Hormel Foods by 22.9% during the third quarter. Koss Olinger Consulting LLC now owns 15,404 shares of the company’s stock valued at $488,000 after buying an additional 2,868 shares during the last quarter. Vest Financial LLC raised its holdings in shares of Hormel Foods by 26.1% during the third quarter. Vest Financial LLC now owns 1,560,847 shares of the company’s stock valued at $49,479,000 after buying an additional 322,645 shares during the last quarter. Raymond James & Associates boosted its position in shares of Hormel Foods by 4.9% during the third quarter. Raymond James & Associates now owns 164,216 shares of the company’s stock worth $5,206,000 after buying an additional 7,663 shares during the period. Finally, Blue Trust Inc. grew its holdings in Hormel Foods by 212.9% in the 3rd quarter. Blue Trust Inc. now owns 3,893 shares of the company’s stock worth $119,000 after buying an additional 2,649 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on HRL shares. Stephens started 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. Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $37.00 in a report on Tuesday, August 13th. Finally, BNP Paribas started coverage on Hormel Foods in a research note on Monday. They set an “underperform” rating and a $28.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.57.

Insider Activity at Hormel Foods

In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $31.95, for a total transaction 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 $2,313,850.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Hormel Foods news, 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 transaction of $1,648,620.00. Following the transaction, the executive vice president now owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the completion of the sale, the senior vice president now directly owns 39,050 shares of the company’s stock, valued at $1,276,935. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,400 shares of company stock worth $2,288,338. 0.69% of the stock is owned by corporate insiders.

Hormel Foods Price Performance

Shares of NYSE:HRL traded down $0.72 on Monday, reaching $31.47. 563,123 shares of the company traded hands, compared to its average volume of 2,626,303. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The stock has a market capitalization of $17.26 billion, a PE ratio of 22.99, a P/E/G ratio of 3.06 and a beta of 0.25. The company’s 50 day moving average is $31.84 and its 200-day moving average is $32.48. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $36.86.

Hormel Foods (NYSE:HRL) last announced its 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 business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. Hormel Foods’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.58%. Hormel Foods’s dividend payout ratio is currently 80.71%.

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.