Duality Advisers LP Acquires Shares of 14,629 Hormel Foods Co. (NYSE:HRL)

Duality Advisers LP acquired a new stake in Hormel Foods Co. (NYSE:HRL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,629 shares of the company’s stock, valued at approximately $470,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janiczek Wealth Management LLC boosted its stake in shares of Hormel Foods by 100.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after buying an additional 1,033 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Hormel Foods by 21.1% during the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after buying an additional 361 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Hormel Foods by 516.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock valued at $82,000 after buying an additional 2,133 shares during the last quarter. RIA Advisory Group LLC purchased a new position in shares of Hormel Foods during the 4th quarter valued at approximately $86,000. Finally, Covestor Ltd boosted its stake in shares of Hormel Foods by 23.7% during the 3rd quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after buying an additional 561 shares during the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Piper Sandler raised their price objective on Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. The Goldman Sachs Group raised their price objective on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Citigroup started coverage on Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, Barclays raised their price objective on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Hormel Foods Stock Performance

Shares of HRL opened at $35.27 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 0.79. The stock has a market capitalization of $19.32 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 3.43 and a beta of 0.27. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $41.73. The business’s fifty day moving average price is $33.71 and its 200 day moving average price is $32.41.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 return on equity of 11.51% and a net margin of 6.55%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. Equities research analysts forecast that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th will be paid a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s payout ratio is 77.40%.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total value of $539,000.00. Following the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,381,015. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $2,381,015. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 40,800 shares of company stock worth $1,414,872. 0.69% of the stock is owned by insiders.

About Hormel Foods

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.