Hormel Foods Co. (NYSE:HRL) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,278 shares of the company’s stock after acquiring an additional 7,377 shares during the period. Atria Wealth Solutions Inc.’s holdings in Hormel Foods were worth $3,616,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its position in Hormel Foods by 4.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,417 shares of the company’s stock worth $25,944,000 after purchasing an additional 34,589 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Hormel Foods by 13.1% during the third quarter. Citigroup Inc. now owns 452,510 shares of the company’s stock worth $14,345,000 after buying an additional 52,457 shares during the period. Grandfield & Dodd LLC grew its holdings in shares of Hormel Foods by 2.9% during the third quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company’s stock worth $29,302,000 after buying an additional 26,390 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Hormel Foods by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock valued at $58,548,000 after acquiring an additional 66,261 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in Hormel Foods during the 3rd quarter valued at approximately $1,025,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Stock Up 0.9 %

Hormel Foods stock opened at $28.82 on Friday. The stock’s 50 day moving average price is $30.46 and its 200 day moving average price is $31.18. The company has a market cap of $15.82 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. Hormel Foods Co. has a 1-year low of $28.03 and a 1-year high of $36.86.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Hormel Foods’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts predict that Hormel Foods Co. will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th were issued a $0.29 dividend. The ex-dividend date was Monday, January 13th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. Hormel Foods’s dividend payout ratio (DPR) is 79.45%.

Analyst Upgrades and Downgrades

HRL has been the topic of several analyst reports. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Citigroup dropped their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Stephens restated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday. Two analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.17.

Insider Activity

In other news, VP Steven J. Lykken acquired 4,904 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $32.47 per share, with a total value of $159,232.88. Following the purchase, the vice president now directly owns 7,100 shares of the company’s stock, valued at approximately $230,537. This trade represents a 223.32 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

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.