Mutual of America Capital Management LLC Sells 1,759 Shares of Hormel Foods Co. (NYSE:HRL)

Mutual of America Capital Management LLC decreased its position in shares of Hormel Foods Co. (NYSE:HRL) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,911 shares of the company’s stock after selling 1,759 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Hormel Foods were worth $1,249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of HRL. Invesco Ltd. increased its stake in Hormel Foods by 2.8% during the 3rd 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 increased its position in shares of Hormel Foods by 6.0% during the third quarter. Northern Trust Corp now owns 3,059,847 shares of the company’s stock worth $116,366,000 after acquiring an additional 172,110 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Hormel Foods by 7.2% in the 3rd 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 last quarter. Tandem Investment Advisors Inc. lifted its position in Hormel Foods by 28.0% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,959,077 shares of the company’s stock valued at $74,504,000 after acquiring an additional 428,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Hormel Foods by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,626,471 shares of the company’s stock valued at $61,855,000 after purchasing an additional 35,731 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Stock Up 1.2 %

Hormel Foods stock opened at $35.15 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $19.25 billion, a P/E ratio of 24.07, a P/E/G ratio of 3.35 and a beta of 0.27. The firm has a 50 day moving average price of $33.32 and a 200-day moving average price of $32.38. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $41.73.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts predict that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th will be issued a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

Insider Transactions at Hormel Foods

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on HRL shares. Barclays increased 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. Citigroup began 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. JPMorgan Chase & Co. upped their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Piper Sandler boosted their price target on shares of Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Finally, The Goldman Sachs Group upped 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. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.00.

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.