Weatherly Asset Management L. P. Sells 3,150 Shares of Hormel Foods Co. (NYSE:HRL)

Weatherly Asset Management L. P. lowered its stake in Hormel Foods Co. (NYSE:HRL) by 5.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 50,480 shares of the company’s stock after selling 3,150 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Hormel Foods were worth $1,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Janiczek Wealth Management LLC grew its position in shares of Hormel Foods by 100.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after purchasing an additional 1,033 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Hormel Foods by 21.1% during the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after purchasing an additional 361 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Hormel Foods by 516.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock worth $82,000 after purchasing an additional 2,133 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in shares of Hormel Foods during the fourth quarter worth about $86,000. Finally, Covestor Ltd grew its position in shares of Hormel Foods by 23.7% during the third quarter. Covestor Ltd now owns 2,927 shares of the company’s stock worth $111,000 after purchasing an additional 561 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of Hormel Foods stock remained flat at $35.14 on Tuesday. The stock had a trading volume of 1,595,895 shares, compared to its average volume of 3,117,696. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 3.35 and a beta of 0.27. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $33.32 and its 200-day simple moving average is $32.38. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $41.73.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the company earned $0.40 EPS. Hormel Foods’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be paid a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s dividend payout ratio is currently 77.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays raised their price target on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Citigroup assumed coverage on Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target for the company. Piper Sandler raised their price target on Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, January 12th. The Goldman Sachs Group raised their price target on Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised their price target on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.00.

Insider Buying and Selling

In related news, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the sale, the vice president now directly owns 68,029 shares of the company’s stock, valued at approximately $2,381,015. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total value of $349,500.00. Following the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at $1,352,844.60. The disclosure for this sale can be found here. In the last three months, insiders sold 40,800 shares of company stock valued at $1,414,872. Insiders own 0.69% of the company’s stock.

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.