Hormel Foods Co. (NYSE:HRL) Stock Holdings Decreased by Cherry Tree Wealth Management LLC

Cherry Tree Wealth Management LLC reduced its position in Hormel Foods Co. (NYSE:HRL) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,226 shares of the company’s stock after selling 2,149 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Hormel Foods were worth $489,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. PAX Financial Group LLC grew its position in Hormel Foods by 2.7% during the third quarter. PAX Financial Group LLC now owns 13,304 shares of the company’s stock valued at $506,000 after purchasing an additional 354 shares in the last quarter. Huntington National Bank grew its position in Hormel Foods by 10.3% during the third quarter. Huntington National Bank now owns 3,801 shares of the company’s stock valued at $145,000 after purchasing an additional 355 shares in the last quarter. Federated Hermes Inc. grew its position in Hormel Foods by 21.1% during the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after purchasing an additional 361 shares in the last quarter. Insight Folios Inc grew its position in Hormel Foods by 6.5% during the fourth quarter. Insight Folios Inc now owns 7,013 shares of the company’s stock valued at $225,000 after purchasing an additional 429 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its position in Hormel Foods by 7.3% during the third quarter. Cassaday & Co Wealth Management LLC now owns 6,343 shares of the company’s stock valued at $241,000 after purchasing an additional 433 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Trading Down 0.5 %

HRL traded down $0.19 during mid-day trading on Wednesday, hitting $35.12. The stock had a trading volume of 1,196,474 shares, compared to its average volume of 2,981,005. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $41.73. The firm has a market capitalization of $19.24 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 3.39 and a beta of 0.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 0.79. The stock’s fifty day simple moving average is $34.57 and its 200-day simple moving average is $32.51.

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

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be issued a dividend of $0.2825 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.22%. Hormel Foods’s payout ratio is presently 77.40%.

Analysts Set New Price Targets

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

Insider Activity at Hormel Foods

In other Hormel Foods news, 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 transaction 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 approximately $2,325,231.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Mark A. Coffey sold 15,400 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the completion of the transaction, the vice president now owns 68,029 shares in the company, valued at $2,325,231.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the sale, the senior vice president now owns 38,708 shares in the company, valued at $1,352,844.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,800 shares of company stock valued at $1,414,872. 0.69% of the stock is owned by insiders.

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.