Public Employees Retirement Association of Colorado Sells 675 Shares of Hormel Foods Co. (NYSE:HRL)

Public Employees Retirement Association of Colorado lessened its holdings in Hormel Foods Co. (NYSE:HRLFree Report) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,075 shares of the company’s stock after selling 675 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Hormel Foods were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Janiczek Wealth Management LLC raised its position in Hormel Foods by 100.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after purchasing an additional 1,033 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Hormel Foods by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after buying an additional 361 shares in the last quarter. Sound Income Strategies LLC lifted its position 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 worth $82,000 after buying an additional 2,133 shares during the period. RIA Advisory Group LLC acquired a new stake in Hormel Foods in the 4th quarter valued at $86,000. Finally, Covestor Ltd grew its position in Hormel Foods by 23.7% in the third quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after acquiring an additional 561 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insider Transactions at Hormel Foods

In related news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the transaction, the senior vice president now owns 38,708 shares in the company, valued at $1,352,844.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark A. Coffey sold 15,400 shares of the company’s 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 completion of the sale, the vice president now directly owns 68,029 shares of the company’s stock, valued at $2,381,015. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Citigroup reduced their target price on shares of Hormel Foods from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $28.00 to $29.00 in a research report on Friday, May 31st. Barclays raised their price objective on shares of Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Stephens reissued an “equal weight” rating and issued a $32.00 target price on shares of Hormel Foods in a report on Friday, May 31st. Finally, The Goldman Sachs Group raised their price target on Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Hormel Foods has an average rating of “Hold” and an average price target of $31.67.

Read Our Latest Research Report on HRL

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $30.58 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.73 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $34.44 and a 200 day simple moving average of $32.77. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $41.73. The firm has a market cap of $16.77 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.94 and a beta of 0.25.

Hormel Foods (NYSE:HRLGet Free Report) last released its earnings results on Thursday, May 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Hormel Foods had a return on equity of 11.31% and a net margin of 6.37%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the firm earned $0.40 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts predict that Hormel Foods Co. will post 1.59 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.2825 dividend. This represents a $1.13 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, July 15th. Hormel Foods’s dividend payout ratio (DPR) is presently 80.71%.

About Hormel Foods

(Free Report)

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.

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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