Machina Capital S.A.S. Buys 53,037 Shares of Hormel Foods Corporation $HRL

Machina Capital S.A.S. bought a new stake in shares of Hormel Foods Corporation (NYSE:HRL) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 53,037 shares of the company’s stock, valued at approximately $1,058,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raiffeisen Bank International AG raised its position in Hormel Foods by 90.7% in the second quarter. Raiffeisen Bank International AG now owns 986 shares of the company’s stock valued at $26,000 after purchasing an additional 469 shares during the period. Latitude Advisors LLC acquired a new position in shares of Hormel Foods during the third quarter worth about $27,000. Fiduciary Financial Advisors acquired a new position in shares of Hormel Foods during the second quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Hormel Foods by 57.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the company’s stock worth $33,000 after purchasing an additional 531 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Hormel Foods in the second quarter worth about $37,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hormel Foods

In other Hormel Foods news, Chairman William A. Newlands purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were acquired at an average price of $20.10 per share, for a total transaction of $201,000.00. Following the completion of the purchase, the chairman owned 76,375 shares in the company, valued at $1,535,137.50. The trade was a 15.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Hormel Foods Stock Performance

Hormel Foods stock opened at $21.86 on Friday. Hormel Foods Corporation has a 12-month low of $18.96 and a 12-month high of $26.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 0.92. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.49 and a beta of 0.27. The firm’s fifty day moving average price is $20.69 and its 200 day moving average price is $22.75.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. On average, research analysts forecast that Hormel Foods Corporation will post 1.48 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Tuesday, October 13th will be paid a $0.2925 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $1.17 annualized dividend and a dividend yield of 5.4%. Hormel Foods’s payout ratio is 185.71%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays reiterated an “overweight” rating and issued a $28.00 target price (down from $30.00) on shares of Hormel Foods in a research note on Wednesday, October 14th. Stephens set a $23.00 target price on Hormel Foods in a report on Friday, August 28th. BNP Paribas Exane restated a “neutral” rating and issued a $23.00 price target (down from $26.00) on shares of Hormel Foods in a report on Wednesday, October 7th. Piper Sandler reaffirmed a “neutral” rating on shares of Hormel Foods in a research report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average price target of $25.43.

Hormel Foods Profile

Hormel Foods Corporation is a branded food company that produces and markets meat and other food products for retail, foodservice and other customers. Its offerings include pork, turkey and other meat products, as well as refrigerated and shelf-stable foods. The company’s brands include Hormel, SPAM, Jennie-O, Skippy, Applegate and Planters. Its products are sold in the United States and in international markets. Founded in 1891 by George A. Hormel in Austin, Minnesota, the company has grown from a local meatpacking business into a diversified food producer.