AM Investment Strategies LLC Increases Stake in Hormel Foods Co. (NYSE:HRL)

AM Investment Strategies LLC boosted its stake in Hormel Foods Co. (NYSE:HRL) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,151 shares of the company’s stock after purchasing an additional 6,063 shares during the period. Hormel Foods comprises 1.0% of AM Investment Strategies LLC’s investment portfolio, making the stock its 19th largest position. AM Investment Strategies LLC’s holdings in Hormel Foods were worth $3,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Janiczek Wealth Management LLC boosted its position in shares of Hormel Foods by 100.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after purchasing an additional 1,033 shares in the last quarter. Federated Hermes Inc. raised its stake 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 worth $66,000 after purchasing an additional 361 shares during the last quarter. Sound Income Strategies LLC raised its stake 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 worth $82,000 after purchasing an additional 2,133 shares during the last quarter. RIA Advisory Group LLC purchased a new position in shares of Hormel Foods in the fourth quarter worth $86,000. Finally, Covestor Ltd raised its stake in shares of Hormel Foods by 23.7% in the third quarter. Covestor Ltd now owns 2,927 shares of the company’s stock worth $111,000 after purchasing an additional 561 shares during the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hormel Foods

In other news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.18, for a total value of $526,372.00. Following the completion of the transaction, the vice president now owns 68,029 shares of the company’s stock, valued at $2,325,231.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the transaction, the senior vice president now owns 38,708 shares in the company, valued at approximately $1,352,844.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $34.18, for a total value of $526,372.00. Following the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,325,231.22. The disclosure for this sale can be found here. Insiders sold a total of 40,800 shares of company stock valued at $1,414,872 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

HRL has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price target on Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upped their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Citigroup began coverage on Hormel Foods in a research report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price objective for the company. Piper Sandler upped their price objective on Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Finally, Barclays upped their price objective on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average price target of $31.00.

Hormel Foods Stock Performance

NYSE:HRL traded down $0.33 during mid-day trading on Thursday, hitting $35.27. 1,743,566 shares of the company traded hands, compared to its average volume of 3,089,244. The stock’s fifty day moving average price is $33.71 and its 200-day moving average price is $32.41. Hormel Foods Co. has a one year low of $28.51 and a one year high of $41.73. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 0.30. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 3.39 and a beta of 0.27.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. Hormel Foods’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts anticipate that Hormel Foods Co. will post 1.59 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, March 25th will be paid a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is 77.40%.

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.