Hormel Foods Co. (NYSE:HRL) Stock Position Reduced by Leisure Capital Management

Leisure Capital Management lessened its position in shares of Hormel Foods Co. (NYSE:HRL) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,452 shares of the company’s stock after selling 6,773 shares during the period. Leisure Capital Management’s holdings in Hormel Foods were worth $496,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. AM Investment Strategies LLC lifted its holdings in shares of Hormel Foods by 6.0% in the 4th quarter. AM Investment Strategies LLC now owns 107,151 shares of the company’s stock worth $3,441,000 after purchasing an additional 6,063 shares during the last quarter. Semanteon Capital Management LP bought a new stake in Hormel Foods during the 4th quarter valued at $860,000. Syon Capital LLC bought a new stake in Hormel Foods during the 4th quarter valued at $232,000. Atria Wealth Solutions Inc. raised its stake in Hormel Foods by 6.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 68,497 shares of the company’s stock valued at $2,199,000 after acquiring an additional 4,331 shares in the last quarter. Finally, Cognios Beta Neutral Large Cap Fund LP raised its stake in Hormel Foods by 10.5% during the 4th quarter. Cognios Beta Neutral Large Cap Fund LP now owns 16,230 shares of the company’s stock valued at $521,000 after acquiring an additional 1,542 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Hormel Foods

In other news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.18, for a total value of $526,372.00. Following the completion of the sale, the vice president now owns 68,029 shares of the company’s stock, valued at $2,325,231.22. The sale was disclosed in a legal filing with the SEC, 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 Friday, March 8th. The stock was sold at an average price of $34.18, for a total value of $526,372.00. Following the completion of the sale, the vice president now owns 68,029 shares of the company’s stock, valued at $2,325,231.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the completion of the sale, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The disclosure for this sale can be found here. Insiders sold a total of 40,800 shares of company stock valued at $1,414,872 over the last quarter. Company insiders own 0.69% of the company’s stock.

Hormel Foods Price Performance

Shares of NYSE HRL traded up $0.05 during mid-day trading on Friday, reaching $35.32. The company had a trading volume of 2,088,175 shares, compared to its average volume of 2,357,894. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30. The stock has a market cap of $19.34 billion, a PE ratio of 24.19, a P/E/G ratio of 3.40 and a beta of 0.27. The company has a 50-day moving average price of $33.84 and a two-hundred day moving average price of $32.41. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $41.73.

Hormel Foods (NYSE:HRL) last issued 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. The business 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 company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities analysts anticipate that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, March 25th will be given a $0.2825 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.13 annualized dividend and a dividend yield of 3.20%. Hormel Foods’s dividend payout ratio (DPR) is presently 77.40%.

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.