Atria Wealth Solutions Inc. Purchases 4,331 Shares of Hormel Foods Co. (NYSE:HRL)

Atria Wealth Solutions Inc. grew its position in shares of Hormel Foods Co. (NYSE:HRL) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,497 shares of the company’s stock after buying an additional 4,331 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Hormel Foods were worth $2,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of Hormel Foods by 2.8% during the third quarter. Invesco Ltd. now owns 6,014,570 shares of the company’s stock valued at $228,734,000 after purchasing an additional 165,563 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Hormel Foods by 6.0% during the 3rd quarter. Northern Trust Corp now owns 3,059,847 shares of the company’s stock valued at $116,366,000 after acquiring an additional 172,110 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Hormel Foods by 7.2% in the third quarter. Stifel Financial Corp now owns 2,510,004 shares of the company’s stock worth $95,455,000 after acquiring an additional 167,920 shares during the period. Tandem Investment Advisors Inc. raised its holdings in shares of Hormel Foods by 28.0% during the third quarter. Tandem Investment Advisors Inc. now owns 1,959,077 shares of the company’s stock valued at $74,504,000 after purchasing an additional 428,100 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Hormel Foods by 4.8% during the fourth quarter. California Public Employees Retirement System now owns 1,775,780 shares of the company’s stock valued at $57,020,000 after purchasing an additional 81,970 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HRL shares. JPMorgan Chase & Co. boosted their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Barclays increased their target price on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Citigroup began coverage on Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target for the company. 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 note on Friday, March 1st. Finally, Piper Sandler upped their target price on shares of Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.00.

Hormel Foods Stock Up 0.3 %

NYSE HRL opened at $35.42 on Tuesday. The stock’s 50-day moving average price is $33.97 and its 200-day moving average price is $32.37. The company has a market capitalization of $19.40 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 3.41 and a beta of 0.27. 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 52 week low of $28.51 and a 52 week high of $41.73.

Hormel Foods (NYSE:HRL) last released its 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 company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS. On average, equities research analysts predict that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be issued a $0.2825 dividend. This represents a $1.13 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s dividend payout ratio is currently 77.40%.

Insiders Place Their Bets

In other news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the transaction, the senior vice president now directly owns 38,708 shares in the company, valued at $1,352,844.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total transaction of $539,000.00. Following the completion of the transaction, the vice president now owns 68,029 shares in the company, valued at $2,381,015. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction on 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 sale, the senior vice president now owns 38,708 shares in the company, valued at $1,352,844.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,800 shares of company stock worth $1,414,872. Corporate insiders own 0.69% of the company’s stock.

Hormel Foods Company 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.