Hormel Foods Co. (NYSE:HRL) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC lessened its holdings in Hormel Foods Co. (NYSE:HRL) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,994 shares of the company’s stock after selling 1,067 shares during the period. Larson Financial Group LLC’s holdings in Hormel Foods were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted its holdings in Hormel Foods by 33.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 106,596 shares of the company’s stock valued at $4,054,000 after acquiring an additional 26,500 shares during the period. Diversified Trust Co boosted its holdings in Hormel Foods by 10.7% during the 3rd quarter. Diversified Trust Co now owns 26,230 shares of the company’s stock valued at $998,000 after acquiring an additional 2,530 shares during the period. Carlson Capital Management boosted its holdings in Hormel Foods by 6.2% during the 3rd quarter. Carlson Capital Management now owns 7,878 shares of the company’s stock valued at $300,000 after acquiring an additional 457 shares during the period. EP Wealth Advisors LLC boosted its holdings in Hormel Foods by 32.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 6,392 shares of the company’s stock valued at $243,000 after acquiring an additional 1,576 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Hormel Foods by 1.7% during the 3rd quarter. Deutsche Bank AG now owns 947,975 shares of the company’s stock valued at $36,051,000 after acquiring an additional 15,663 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock traded up $0.50 during midday trading on Thursday, hitting $30.91. The company had a trading volume of 340,012 shares, compared to its average volume of 2,825,252. The company’s 50 day simple moving average is $32.48 and its 200 day simple moving average is $32.58. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $41.73. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.89 and a beta of 0.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.73 and a quick ratio of 1.00.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, May 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Hormel Foods had a return on equity of 11.31% and a net margin of 6.37%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts anticipate that Hormel Foods Co. will post 1.6 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. Shareholders of record on Monday, July 15th will be issued a dividend of $0.2825 per share. The ex-dividend date is Monday, July 15th. This represents a $1.13 annualized dividend and a yield of 3.66%. Hormel Foods’s dividend payout ratio (DPR) is currently 80.71%.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of research analyst reports. Citigroup lowered their target price on Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, May 31st. JPMorgan Chase & Co. upgraded Hormel Foods from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $28.00 to $29.00 in a research note on Friday, May 31st. Finally, Stephens reiterated an “equal weight” rating and issued a $32.00 price objective on shares of Hormel Foods in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.67.

About Hormel Foods

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.