Larson Financial Group LLC Sells 1,054 Shares of Hormel Foods Co. (NYSE:HRL)

Larson Financial Group LLC trimmed its position in shares of Hormel Foods Co. (NYSE:HRL) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,061 shares of the company’s stock after selling 1,054 shares during the period. Larson Financial Group LLC’s holdings in Hormel Foods were worth $355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Janiczek Wealth Management LLC boosted its position in shares of Hormel Foods by 100.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after acquiring an additional 1,033 shares during the period. Federated Hermes Inc. grew its position in Hormel Foods by 21.1% in the 4th 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 grew its position in Hormel Foods by 516.5% in the 4th 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 bought a new position in Hormel Foods during the fourth quarter valued at about $86,000. Finally, Covestor Ltd increased its position in shares of Hormel Foods by 23.7% during the third quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after purchasing an additional 561 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the transaction, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,325,231.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the transaction, the senior vice president now owns 38,708 shares of the company’s stock, valued at $1,352,844.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark A. Coffey sold 15,400 shares of the business’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 transaction, 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. Insiders sold 40,800 shares of company stock worth $1,414,872 in the last quarter. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

HRL has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a research note on Friday, March 1st. Citigroup assumed coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target for the company. 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 note on Friday, March 1st. Barclays boosted their price target 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. Finally, Piper Sandler increased their price objective on 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 issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and a consensus price target of $31.00.

Hormel Foods Stock Performance

HRL stock opened at $35.14 on Wednesday. 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 has a market capitalization of $19.25 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 3.39 and a beta of 0.27. The business has a fifty day moving average price of $33.45 and a 200 day moving average price of $32.37. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $41.73.

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 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 business 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 business posted $0.40 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts expect that Hormel Foods Co. will post 1.59 EPS for the current fiscal year.

Hormel Foods Announces Dividend

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

About Hormel Foods

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.