Lifeworks Advisors LLC Buys Shares of 26,611 Hormel Foods Corporation $HRL

Lifeworks Advisors LLC bought a new position in Hormel Foods Corporation (NYSE:HRL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,611 shares of the company’s stock, valued at approximately $603,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Caxton Associates LLP purchased a new position in Hormel Foods in the 1st quarter worth about $310,000. Empowered Funds LLC boosted its holdings in shares of Hormel Foods by 1.8% during the 1st quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock valued at $1,779,000 after acquiring an additional 993 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Hormel Foods by 40.8% during the 1st quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock valued at $761,000 after acquiring an additional 7,129 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Hormel Foods by 214.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock worth $143,000 after acquiring an additional 3,226 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of Hormel Foods by 76.5% during the second quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock valued at $3,134,000 after purchasing an additional 44,906 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Performance

HRL opened at $24.45 on Tuesday. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 2.84 and a beta of 0.34. The company’s 50 day moving average is $23.13 and its 200 day moving average is $23.24. Hormel Foods Corporation has a 12-month low of $19.70 and a 12-month high of $30.28.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Hormel Foods Corporation will post 1.5 EPS for the current year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be paid a dividend of $0.2925 per share. The ex-dividend date is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.8%. Hormel Foods’s payout ratio is 137.65%.

Analyst Ratings Changes

A number of research analysts recently weighed in on HRL shares. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research note on Thursday, May 21st. Bank of America increased their price target on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $23.00 price target (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $25.00 price objective on shares of Hormel Foods in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and a consensus price target of $26.00.

Insider Activity

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the sale, the director directly owned 32,002 shares of the company’s stock, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Hormel Foods Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.