27,031 Shares in Hormel Foods Corporation $HRL Purchased by Fieldview Capital Management LLC

Fieldview Capital Management LLC purchased a new position in shares of Hormel Foods Corporation (NYSE:HRL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,031 shares of the company’s stock, valued at approximately $641,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRL. GoalVest Advisory LLC bought a new position in Hormel Foods in the fourth quarter valued at $25,000. MUFG Securities EMEA plc acquired a new stake in Hormel Foods in the 2nd quarter valued at $26,000. Parkside Financial Bank & Trust lifted its position in Hormel Foods by 354.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after buying an additional 1,025 shares in the last quarter. Ankerstar Wealth LLC bought a new stake in Hormel Foods during the 4th quarter worth about $35,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Hormel Foods by 514.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock worth $37,000 after buying an additional 1,266 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Trading Down 0.7%

Shares of NYSE:HRL opened at $24.57 on Tuesday. Hormel Foods Corporation has a 52-week low of $19.70 and a 52-week high of $31.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. The company has a market capitalization of $13.52 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 2.85 and a beta of 0.35. The company has a 50-day simple moving average of $21.70 and a 200 day simple moving average of $23.08.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the company posted $0.35 earnings per share. Hormel Foods’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be issued a dividend of $0.2925 per share. The ex-dividend date is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a yield of 4.8%. Hormel Foods’s dividend payout ratio (DPR) is presently 137.65%.

Analyst Ratings Changes

HRL has been the topic of a number of recent research reports. Bank of America lifted their target price on Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a research report on Thursday, May 21st. Stephens boosted their price target on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.67.

Hormel Foods Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.