Linden Thomas Advisory Services LLC Has $533,000 Holdings in Hormel Foods Co. (NYSE:HRL)

Linden Thomas Advisory Services LLC lifted its holdings in Hormel Foods Co. (NYSE:HRL) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,590 shares of the company’s stock after acquiring an additional 920 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Hormel Foods were worth $533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HRL. Janiczek Wealth Management LLC raised its position in 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 purchasing an additional 1,033 shares during the last quarter. Federated Hermes Inc. raised 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 raised 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 in the 4th quarter worth approximately $86,000. Finally, Covestor Ltd raised its position in shares of Hormel Foods by 23.7% during the 3rd quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after acquiring an additional 561 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $35.27 on Friday. The firm has a market cap of $19.32 billion, a PE ratio of 24.16, a PEG ratio of 3.43 and a beta of 0.27. 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 Co. has a 1-year low of $28.51 and a 1-year high of $41.73. The company has a fifty day moving average price of $33.71 and a 200 day moving average price of $32.41.

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

Hormel Foods Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. upped their target price 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. Barclays upped their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Piper Sandler boosted their price target on shares of Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Citigroup started coverage on shares of Hormel Foods in a report on Thursday, February 1st. They issued a “neutral” rating and a $31.00 price target for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.00.

Insider Activity

In related news, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 directly owns 38,708 shares in the company, valued at $1,352,844.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the sale, the vice president now owns 68,029 shares of the company’s stock, valued at $2,381,015. 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. Corporate insiders own 0.69% of the company’s stock.

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.