Mark Sheptoff Financial Planning LLC Cuts Stake in Hormel Foods Co. (NYSE:HRL)

Mark Sheptoff Financial Planning LLC decreased its holdings in Hormel Foods Co. (NYSE:HRL) by 26.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,685 shares of the company’s stock after selling 8,000 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Hormel Foods were worth $712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HRL. Crews Bank & Trust purchased a new stake in shares of Hormel Foods during the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new stake in Hormel Foods during the 3rd quarter worth approximately $32,000. Fairway Wealth LLC acquired a new position in Hormel Foods during the 4th quarter valued at approximately $44,000. Capital Advisors Ltd. LLC raised its holdings in shares of Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after buying an additional 690 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after buying an additional 729 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Trading Down 1.5 %

Shares of NYSE:HRL opened at $28.81 on Wednesday. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The business has a 50 day moving average of $29.50 and a two-hundred day moving average of $30.71. The company has a market capitalization of $15.84 billion, a PE ratio of 19.73, a PEG ratio of 2.73 and a beta of 0.21.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 4.03%. Hormel Foods’s dividend payout ratio is presently 84.67%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods 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.