Hormel Foods Corporation $HRL Stock Holdings Lifted by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 107.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 456,666 shares of the company’s stock after purchasing an additional 236,637 shares during the period. Wealthfront Advisers LLC’s holdings in Hormel Foods were worth $11,298,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in shares of Hormel Foods by 11.2% in the third quarter. ProShare Advisors LLC now owns 5,769,398 shares of the company’s stock worth $142,735,000 after buying an additional 581,006 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in Hormel Foods by 3.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 143,199 shares of the company’s stock worth $3,543,000 after acquiring an additional 4,668 shares in the last quarter. MCF Advisors LLC boosted its position in Hormel Foods by 72.4% during the 3rd quarter. MCF Advisors LLC now owns 47,006 shares of the company’s stock worth $1,163,000 after acquiring an additional 19,734 shares during the period. Coston McIsaac & Partners boosted its position in Hormel Foods by 262.1% during the 3rd quarter. Coston McIsaac & Partners now owns 9,953 shares of the company’s stock worth $245,000 after acquiring an additional 7,204 shares during the period. Finally, Savant Capital LLC increased its holdings in shares of Hormel Foods by 31.1% in the 3rd quarter. Savant Capital LLC now owns 72,434 shares of the company’s stock valued at $1,792,000 after purchasing an additional 17,174 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Stock Performance

HRL stock opened at $24.31 on Wednesday. The firm has a 50 day moving average of $24.06 and a two-hundred day moving average of $24.64. Hormel Foods Corporation has a 12 month low of $21.03 and a 12 month high of $32.07. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 2.48 and a beta of 0.33. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.24 billion. Hormel Foods had a net margin of 3.95% and a return on equity of 9.41%. Hormel Foods’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, equities analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, January 12th will be paid a dividend of $0.2925 per share. This is a boost from Hormel Foods’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, January 12th. This represents a $1.17 annualized dividend and a dividend yield of 4.8%. Hormel Foods’s dividend payout ratio is currently 134.48%.

Wall Street Analysts Forecast Growth

HRL has been the subject of several research reports. The Goldman Sachs Group set a $27.00 price target on shares of Hormel Foods and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Barclays set a $30.00 price target on shares of Hormel Foods and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Wall Street Zen upgraded Hormel Foods from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.29.

About Hormel Foods

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.