Kestra Advisory Services LLC Increases Stake in Hormel Foods Corporation $HRL

Kestra Advisory Services LLC lifted its position in Hormel Foods Corporation (NYSE:HRL) by 100.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,818 shares of the company’s stock after acquiring an additional 20,959 shares during the quarter. Kestra Advisory Services LLC’s holdings in Hormel Foods were worth $947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MUFG Securities EMEA plc purchased a new position in Hormel Foods during the 2nd quarter valued at about $26,000. Strive Financial Group LLC purchased a new stake in shares of Hormel Foods in the 4th quarter worth approximately $27,000. Motiv8 Investments LLC bought a new position in shares of Hormel Foods during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust increased its holdings in Hormel Foods by 354.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock valued at $31,000 after buying an additional 1,025 shares during the period. Finally, Root Financial Partners LLC raised its stake in Hormel Foods by 149.2% in the first quarter. Root Financial Partners LLC now owns 1,495 shares of the company’s stock worth $34,000 after buying an additional 895 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HRL has been the subject of a number of analyst reports. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a report on Thursday, May 21st. BNP Paribas Exane boosted their price target on Hormel Foods from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Bank of America upped their price objective on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Stephens reiterated an “equal weight” rating and issued a $25.00 target price on shares of Hormel Foods in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $23.00 target price (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and a consensus target price of $26.14.

Hormel Foods Stock Down 0.8%

Shares of HRL stock opened at $25.02 on Friday. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $29.63. The stock’s fifty day moving average price is $23.90 and its 200 day moving average price is $23.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The company has a market cap of $13.77 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last released its quarterly 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. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. On average, research analysts expect that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be paid a $0.2925 dividend. The ex-dividend date is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a yield of 4.7%. Hormel Foods’s dividend payout ratio (DPR) is 137.65%.

Insider Buying and Selling

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total transaction of $495,102.00. Following the sale, the director owned 32,002 shares of the company’s stock, valued at approximately $784,369.02. The trade was a 38.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is owned by company insiders.

Hormel Foods Company 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.