43,017 Shares in Hormel Foods Co. (NYSE:HRL) Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC bought a new stake in shares of Hormel Foods Co. (NYSE:HRL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,017 shares of the company’s stock, valued at approximately $1,364,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC grew its stake in Hormel Foods by 6.0% in the first quarter. Lazard Asset Management LLC now owns 11,141 shares of the company’s stock valued at $388,000 after purchasing an additional 629 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Hormel Foods by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 404,445 shares of the company’s stock worth $14,112,000 after buying an additional 17,208 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Hormel Foods by 391.3% during the 1st quarter. Janus Henderson Group PLC now owns 182,373 shares of the company’s stock worth $6,360,000 after acquiring an additional 145,255 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Hormel Foods during the first quarter valued at approximately $242,000. Finally, Sanibel Captiva Trust Company Inc. boosted its stake in Hormel Foods by 13.5% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 12,508 shares of the company’s stock valued at $436,000 after acquiring an additional 1,488 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Stock Up 0.9 %

Hormel Foods stock opened at $31.92 on Friday. The business’s 50-day simple moving average is $30.99 and its two-hundred day simple moving average is $31.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. The company has a market cap of $17.50 billion, a PE ratio of 22.48, a PEG ratio of 3.33 and a beta of 0.26. 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 issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company earned $0.40 EPS. Hormel Foods’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current year.

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, January 13th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.63%. Hormel Foods’s payout ratio is currently 79.58%.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the sale, the vice president now owns 30,589 shares in the company, valued at approximately $976,094.99. This represents a 24.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. This trade represents a 41.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,400 shares of company stock valued at $2,288,338. 0.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HRL. Stephens assumed coverage on Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. Citigroup reduced their target price on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, 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 for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.29.

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.