CVA Family Office LLC Takes Position in Hormel Foods Co. (NYSE:HRL)

CVA Family Office LLC bought a new position in shares of Hormel Foods Co. (NYSE:HRLFree Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 875 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds have also recently added to or reduced their stakes in HRL. Invesco Ltd. boosted its position in shares of Hormel Foods by 2.8% in the third quarter. Invesco Ltd. now owns 6,014,570 shares of the company’s stock worth $228,734,000 after acquiring an additional 165,563 shares during the last quarter. Mairs & Power Inc. boosted its holdings in shares of Hormel Foods by 2.0% in the 4th quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after purchasing an additional 108,944 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Hormel Foods by 6.0% in the 3rd quarter. Northern Trust Corp now owns 3,059,847 shares of the company’s stock valued at $116,366,000 after purchasing an additional 172,110 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Hormel Foods by 97.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock worth $93,151,000 after buying an additional 1,434,437 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Hormel Foods by 5.8% in the 4th quarter. Stifel Financial Corp now owns 2,654,609 shares of the company’s stock worth $85,239,000 after buying an additional 144,605 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup lowered their price target on Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Barclays increased their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $28.00 to $29.00 in a research report on Friday, May 31st. The Goldman Sachs Group increased their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Finally, Stephens restated an “equal weight” rating and set a $32.00 target price on shares of Hormel Foods in a report on Friday, May 31st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.67.

Get Our Latest Stock Report on HRL

Hormel Foods Trading Up 0.5 %

NYSE HRL opened at $30.64 on Friday. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $41.73. The stock has a market cap of $16.80 billion, a P/E ratio of 21.89, a PEG ratio of 2.93 and a beta of 0.25. The company has a current ratio of 1.73, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $33.66 and its 200-day simple moving average is $32.69.

Hormel Foods (NYSE:HRLGet Free Report) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the company posted $0.40 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that Hormel Foods Co. will post 1.59 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th 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 3.69%. The ex-dividend date is Monday, July 15th. Hormel Foods’s dividend payout ratio is currently 80.71%.

Insider Activity at Hormel Foods

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

About Hormel Foods

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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