Geneos Wealth Management Inc. decreased its holdings in Hormel Foods Co. (NYSE:HRL – Get Rating) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,074 shares of the company’s stock after selling 273 shares during the period. Geneos Wealth Management Inc.’s holdings in Hormel Foods were worth $186,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Quadrant Capital Group LLC increased its holdings in shares of Hormel Foods by 4.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,537 shares of the company’s stock worth $206,000 after purchasing an additional 212 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Hormel Foods by 5.0% in the 3rd quarter. IFP Advisors Inc now owns 4,755 shares of the company’s stock worth $177,000 after purchasing an additional 225 shares in the last quarter. ICW Investment Advisors LLC grew its holdings in shares of Hormel Foods by 0.6% in the third quarter. ICW Investment Advisors LLC now owns 37,330 shares of the company’s stock worth $1,696,000 after acquiring an additional 230 shares during the period. Insight Folios Inc grew its holdings in shares of Hormel Foods by 3.5% in the fourth quarter. Insight Folios Inc now owns 6,889 shares of the company’s stock worth $314,000 after acquiring an additional 236 shares during the period. Finally, Czech National Bank grew its holdings in shares of Hormel Foods by 0.7% in the fourth quarter. Czech National Bank now owns 33,885 shares of the company’s stock worth $1,543,000 after acquiring an additional 251 shares during the period. Institutional investors own 39.74% of the company’s stock.
Hormel Foods Price Performance
NYSE HRL opened at $39.26 on Friday. The company has a market capitalization of $21.46 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 3.97 and a beta of 0.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 2.33. The business’s fifty day moving average is $41.60 and its 200 day moving average is $44.64. Hormel Foods Co. has a fifty-two week low of $37.78 and a fifty-two week high of $55.11.
Hormel Foods Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, April 17th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.80%. Hormel Foods’s payout ratio is 61.45%.
Wall Street Analyst Weigh In
Several analysts recently commented on HRL shares. StockNews.com started coverage on Hormel Foods in a report on Thursday, March 16th. They issued a “hold” rating for the company. Argus lowered Hormel Foods from a “buy” rating to a “hold” rating in a report on Thursday, March 30th. Barclays cut their price objective on Hormel Foods from $48.00 to $45.00 in a report on Friday, March 3rd. JPMorgan Chase & Co. lowered Hormel Foods from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $38.00 in a report on Friday, March 3rd. Finally, Bank of America lowered their target price on Hormel Foods from $45.00 to $41.00 in a research report on Monday, March 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.14.
Insider Activity
In other news, Director Elsa A. Murano sold 6,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $40.50, for a total value of $243,000.00. Following the transaction, the director now directly owns 102,698 shares in the company, valued at $4,159,269. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Becerra Jose Luis Prado sold 5,200 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $39.01, for a total value of $202,852.00. Following the sale, the director now directly owns 18,410 shares in the company, valued at $718,174.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elsa A. Murano sold 6,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $40.50, for a total value of $243,000.00. Following the completion of the sale, the director now owns 102,698 shares in the company, valued at $4,159,269. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
About Hormel Foods
Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment focuses on the processing, marketing, and sale of shelf-stable food products sold in the retail market.
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