Mark Sheptoff Financial Planning LLC Reduces Position in Hormel Foods Co. (NYSE:HRL)

Mark Sheptoff Financial Planning LLC reduced its holdings in Hormel Foods Co. (NYSE:HRL) by 26.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,685 shares of the company’s stock after selling 8,000 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Hormel Foods were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of HRL. D.A. Davidson & CO. increased its position in Hormel Foods by 10.4% during the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock worth $311,000 after purchasing an additional 934 shares during the last quarter. US Bancorp DE increased its holdings in shares of Hormel Foods by 3.4% during the 4th quarter. US Bancorp DE now owns 626,360 shares of the company’s stock worth $19,649,000 after buying an additional 20,514 shares during the last quarter. Citigroup Inc. raised its position in shares of Hormel Foods by 13.1% during the 3rd quarter. Citigroup Inc. now owns 452,510 shares of the company’s stock valued at $14,345,000 after buying an additional 52,457 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Hormel Foods by 3.7% in the third 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 last quarter. Finally, Qsemble Capital Management LP purchased a new position in Hormel Foods in the third quarter worth approximately $1,025,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Down 1.5 %

NYSE:HRL opened at $28.81 on Wednesday. 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 Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The stock has a market cap of $15.84 billion, a P/E ratio of 19.73, a P/E/G ratio of 2.73 and a beta of 0.21. The stock has a 50-day simple moving average of $29.50 and a 200-day simple moving average of $30.71.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. Hormel Foods’s payout ratio is currently 84.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Stephens reiterated an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.80.

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.