Yousif Capital Management LLC Sells 16,351 Shares of Hormel Foods Co. (NYSE:HRL)

Yousif Capital Management LLC decreased its position in Hormel Foods Co. (NYSE:HRL) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,373 shares of the company’s stock after selling 16,351 shares during the quarter. Yousif Capital Management LLC’s holdings in Hormel Foods were worth $6,595,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC boosted its stake in Hormel Foods by 417.6% during the third quarter. Avior Wealth Management LLC now owns 5,673 shares of the company’s stock worth $216,000 after buying an additional 4,577 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Hormel Foods by 55.0% during the third quarter. Exchange Traded Concepts LLC now owns 21,394 shares of the company’s stock worth $814,000 after buying an additional 7,587 shares in the last quarter. Czech National Bank boosted its stake in Hormel Foods by 47.6% during the third quarter. Czech National Bank now owns 50,603 shares of the company’s stock worth $1,924,000 after buying an additional 16,313 shares in the last quarter. JGP Wealth Management LLC boosted its stake in Hormel Foods by 10.3% during the third quarter. JGP Wealth Management LLC now owns 131,815 shares of the company’s stock worth $5,013,000 after buying an additional 12,266 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in Hormel Foods by 6.9% during the third quarter. Linden Thomas Advisory Services LLC now owns 15,670 shares of the company’s stock worth $596,000 after buying an additional 1,016 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Insider Activity

In related news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark A. Coffey sold 15,400 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the transaction, 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 a total of 40,800 shares of company stock valued at $1,414,872 in the last ninety days. 0.69% of the stock is owned by insiders.

Hormel Foods Stock Performance

Shares of NYSE:HRL opened at $35.27 on Friday. The stock has a market capitalization of $19.32 billion, a P/E ratio of 24.16, a P/E/G ratio of 3.43 and a beta of 0.27. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $41.73. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $33.71 and a two-hundred 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, topping the consensus estimate of $0.34 by $0.07. The firm 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%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts predict that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on HRL shares. Barclays boosted 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 note on Friday, March 1st. Piper Sandler boosted their target price on shares of Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. The Goldman Sachs Group boosted their target price 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 started 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 on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.00.

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.