8,067 Shares in Hormel Foods Co. (NYSE:HRL) Bought by Sapient Capital LLC

Sapient Capital LLC bought a new stake in Hormel Foods Co. (NYSE:HRL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,067 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in Hormel Foods by 10.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 178,863 shares of the company’s stock worth $6,802,000 after acquiring an additional 16,821 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Hormel Foods by 2.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,573 shares of the company’s stock valued at $3,444,000 after acquiring an additional 2,230 shares during the period. Strs Ohio grew its stake in shares of Hormel Foods by 11.0% in the third quarter. Strs Ohio now owns 57,232 shares of the company’s stock worth $2,176,000 after acquiring an additional 5,652 shares during the last quarter. Inspire Advisors LLC boosted its holdings in Hormel Foods by 6.2% in the 3rd quarter. Inspire Advisors LLC now owns 9,265 shares of the company’s stock valued at $352,000 after purchasing an additional 537 shares during the period. Finally, TD Asset Management Inc grew its position in Hormel Foods by 2.9% in the 3rd quarter. TD Asset Management Inc now owns 1,071,602 shares of the company’s stock worth $40,753,000 after purchasing an additional 30,099 shares during the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Price Performance

NYSE:HRL opened at $35.31 on Wednesday. The firm has a market cap of $19.34 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 3.39 and a beta of 0.28. The company’s 50-day moving average price is $34.57 and its two-hundred day moving average price is $32.51. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. Hormel Foods Co. has a 12 month low of $28.51 and a 12 month high of $41.73.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.91 billion. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. Hormel Foods’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. On average, equities analysts anticipate that Hormel Foods Co. will post 1.59 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, March 25th will be given a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio is currently 77.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HRL shares. Barclays lifted their target price on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. The Goldman Sachs Group raised their target price on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Citigroup started coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They issued a “neutral” rating and a $31.00 price objective for the company. Piper Sandler lifted their target price on shares of Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Insider Activity

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the sale, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,325,231.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Kevin L. Myers sold 10,000 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 38,708 shares of the company’s stock, valued at $1,352,844.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,325,231.22. The disclosure for this sale can be found here. Insiders have sold 40,800 shares of company stock worth $1,414,872 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

About Hormel Foods

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.