26,778 Shares in Hormel Foods Co. (NYSE:HRL) Purchased by Semanteon Capital Management LP

Semanteon Capital Management LP acquired a new stake in Hormel Foods Co. (NYSE:HRL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,778 shares of the company’s stock, valued at approximately $860,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Janiczek Wealth Management LLC grew its holdings in shares of Hormel Foods by 100.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after acquiring an additional 1,033 shares during the period. Federated Hermes Inc. lifted its stake in Hormel Foods by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after buying an additional 361 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Hormel Foods by 516.5% in the 4th quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock valued at $82,000 after buying an additional 2,133 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in Hormel Foods in the 4th quarter valued at approximately $86,000. Finally, Covestor Ltd lifted its stake in Hormel Foods by 23.7% in the 3rd quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after buying an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Up 0.1 %

Shares of Hormel Foods stock traded up $0.05 during trading hours on Friday, reaching $35.32. 2,043,680 shares of the company’s stock were exchanged, compared to its average volume of 3,077,666. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $41.73. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 3.43 and a beta of 0.27. The company has a fifty day moving average of $33.71 and a 200-day moving average of $32.41. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30.

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

Hormel Foods Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HRL. Citigroup began coverage on Hormel Foods in a research note on Thursday, February 1st. They issued a “neutral” rating and a $31.00 target price on the stock. Barclays upped their target price on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upped their target price on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Piper Sandler increased their price target on Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Finally, The Goldman Sachs Group increased 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. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.00.

Insider Buying and Selling

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

Hormel Foods Company 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.