Tidal Investments LLC Has $915,000 Position in Hormel Foods Co. (NYSE:HRL)

Tidal Investments LLC lessened its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 36.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 28,857 shares of the company’s stock after selling 16,298 shares during the period. Tidal Investments LLC’s holdings in Hormel Foods were worth $915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in Hormel Foods by 6.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,543 shares of the company’s stock worth $504,000 after purchasing an additional 1,000 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Hormel Foods during the second quarter worth $67,000. Bank of New York Mellon Corp lifted its stake in shares of Hormel Foods by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,772,481 shares of the company’s stock valued at $54,043,000 after acquiring an additional 6,315 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Hormel Foods by 1.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 41,751 shares of the company’s stock valued at $1,273,000 after acquiring an additional 485 shares during the last quarter. Finally, Simmons Bank acquired a new stake in Hormel Foods in the second quarter worth about $203,000. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Steven J. Lykken purchased 4,904 shares of the company’s stock in a transaction on Friday, December 6th. The shares were purchased at an average price 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 $230,537. This trade represents a 223.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of research reports. BNP Paribas began coverage on shares of Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price on the stock. Stephens assumed coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price objective on the stock. Finally, Citigroup lowered their target price 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.29.

Hormel Foods Stock Up 0.3 %

Shares of NYSE:HRL opened at $31.68 on Friday. The company has a 50 day moving average price of $31.35 and a two-hundred day moving average price of $31.42. The company has a market capitalization of $17.39 billion, a PE ratio of 21.70, a PEG ratio of 3.14 and a beta of 0.26. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data 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 business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $0.42 EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts forecast that Hormel Foods Co. will post 1.65 earnings per share for the current year.

Hormel Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a $0.29 dividend. The ex-dividend date is Monday, January 13th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.66%. Hormel Foods’s payout ratio is currently 79.45%.

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.