Tucker Asset Management LLC Lowers Stake in Hormel Foods Co. (NYSE:HRL)

Tucker Asset Management LLC reduced its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 3.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,008 shares of the company’s stock after selling 426 shares during the period. Tucker Asset Management LLC’s holdings in Hormel Foods were worth $450,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HRL. Clarity Asset Management Inc. purchased a new stake in shares of Hormel Foods in the fourth quarter valued at about $54,000. Janiczek Wealth Management LLC boosted its holdings in shares of Hormel Foods by 100.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after acquiring an additional 1,033 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Hormel Foods by 21.1% in the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after acquiring an additional 361 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Hormel Foods by 516.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock valued at $82,000 after acquiring an additional 2,133 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in shares of Hormel Foods in the fourth quarter valued at about $86,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Price Performance

HRL traded down $0.17 during midday trading on Friday, reaching $30.48. 2,176,972 shares of the company’s stock were exchanged, compared to its average volume of 3,074,474. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.73 and a quick ratio of 1.00. The stock has a market capitalization of $16.71 billion, a PE ratio of 21.77, a P/E/G ratio of 2.94 and a beta of 0.25. The business’s 50-day moving average price is $34.09 and its 200 day moving average price is $32.72. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $41.73.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data 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. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.97 billion. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, equities analysts anticipate that Hormel Foods Co. will post 1.59 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, July 15th. Hormel Foods’s dividend payout ratio is presently 80.71%.

Insider Activity

In related news, VP Mark A. Coffey sold 15,400 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,381,015. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the sale, the senior vice president now directly owns 38,708 shares in the company, valued at $1,352,844.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Mark A. Coffey sold 15,400 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the sale, the vice president now owns 68,029 shares of the company’s stock, valued at $2,381,015. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on HRL shares. Citigroup reduced their price objective on shares of Hormel Foods from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Barclays raised their price objective on shares of Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. The Goldman Sachs Group raised their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and raised 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 given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.