Fiduciary Financial Group LLC Has $341,000 Position in Hormel Foods Co. (NYSE:HRL)

Fiduciary Financial Group LLC increased its stake in shares of Hormel Foods Co. (NYSE:HRL) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,963 shares of the company’s stock after acquiring an additional 894 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Hormel Foods were worth $341,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of HRL. Empirical Finance LLC grew its stake in shares of Hormel Foods by 3.7% in the 1st quarter. Empirical Finance LLC now owns 9,912 shares of the company’s stock valued at $346,000 after buying an additional 352 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Hormel Foods by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock valued at $959,000 after acquiring an additional 384 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Hormel Foods by 2.0% during the first quarter. First Trust Direct Indexing L.P. now owns 20,291 shares of the company’s stock worth $708,000 after purchasing an additional 389 shares during the period. Viawealth LLC lifted its holdings in shares of Hormel Foods by 2.4% in the 1st quarter. Viawealth LLC now owns 17,126 shares of the company’s stock worth $598,000 after purchasing an additional 401 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Hormel Foods by 1.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 41,751 shares of the company’s stock valued at $1,273,000 after purchasing an additional 485 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Stock Up 0.3 %

HRL opened at $31.08 on Friday. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $36.86. The firm has a market capitalization of $17.04 billion, a P/E ratio of 21.89, a PEG ratio of 3.06 and a beta of 0.25. The company’s 50-day moving average is $31.89 and its 200 day moving average is $32.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. Research analysts expect that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.282 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Tuesday, October 15th. Hormel Foods’s dividend payout ratio (DPR) is currently 79.58%.

Insider Activity at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $31.91, for a total value of $312,718.00. Following the transaction, the vice president now directly owns 30,589 shares in the company, valued at $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the sale, the vice president now directly owns 30,589 shares in the company, valued at $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Deanna T. Brady sold 51,600 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the transaction, the executive vice president now owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,400 shares of company stock worth $2,288,338. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stephens initiated coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price objective on the stock. Citigroup raised shares of Hormel Foods from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and an average target price of $32.17.

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.