Benedict Financial Advisors Inc. Lowers Stake in Hormel Foods Co. (NYSE:HRL)

Benedict Financial Advisors Inc. decreased its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 59.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,053 shares of the company’s stock after selling 16,258 shares during the period. Benedict Financial Advisors Inc.’s holdings in Hormel Foods were worth $347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Hormel Foods during the 4th quarter worth approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of Hormel Foods during the third quarter worth approximately $32,000. Prospera Private Wealth LLC acquired a new stake in shares of Hormel Foods during the third quarter worth $39,000. GAMMA Investing LLC grew its position in Hormel Foods by 516.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after buying an additional 1,132 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Hormel Foods in the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 0.2 %

HRL stock opened at $29.23 on Friday. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $36.86. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The company has a market cap of $16.04 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.74 and a beta of 0.26. The company’s 50-day moving average price is $31.11 and its 200 day moving average price is $31.38.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, research analysts expect that Hormel Foods Co. will post 1.66 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, January 13th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. Hormel Foods’s payout ratio is 79.45%.

Wall Street Analysts Forecast Growth

HRL has been the subject of several recent analyst reports. BNP Paribas started coverage on shares of Hormel Foods in a research note on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price for the company. Citigroup cut their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average price target of $31.17.

Insider Buying and Selling

In other Hormel Foods news, VP Steven J. Lykken bought 4,904 shares of the business’s stock in a transaction on Friday, December 6th. The stock was bought at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the transaction, the vice president now owns 7,100 shares in the company, valued at approximately $230,537. The trade was a 223.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

Hormel Foods 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.