Hormel Foods Co. (NYSE:HRL) Shares Acquired by Coston McIsaac & Partners

Coston McIsaac & Partners grew its stake in shares of Hormel Foods Co. (NYSE:HRL) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,382 shares of the company’s stock after acquiring an additional 468 shares during the quarter. Coston McIsaac & Partners’ holdings in Hormel Foods were worth $105,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new stake in shares of Hormel Foods during the third quarter valued at $32,000. Prospera Private Wealth LLC purchased a new stake in Hormel Foods during the 3rd quarter valued at about $39,000. GAMMA Investing LLC increased its holdings in shares of Hormel Foods by 516.9% in the third quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after purchasing an additional 1,132 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Hormel Foods in the third quarter worth about $47,000. Finally, McIlrath & Eck LLC lifted its holdings in shares of Hormel Foods by 47.5% during the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock worth $63,000 after purchasing an additional 638 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hormel Foods

In related news, VP Steven J. Lykken bought 4,904 shares of the business’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $32.47 per share, with a total value of $159,232.88. Following the purchase, the vice president now directly owns 7,100 shares of the company’s stock, valued at $230,537. The trade was a 223.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BNP Paribas started coverage on shares of Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 price target for the company. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens initiated coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price for the company. Finally, Citigroup cut their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average target price of $31.17.

Hormel Foods Stock Performance

HRL opened at $30.20 on Thursday. The company has a market cap of $16.58 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.84 and a beta of 0.26. The firm’s fifty day simple moving average is $31.38 and its two-hundred day simple moving average is $31.48. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $36.86.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. Hormel Foods’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. Equities analysts anticipate that Hormel Foods Co. will post 1.67 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be paid a $0.29 dividend. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, January 13th. Hormel Foods’s dividend payout ratio (DPR) is currently 79.45%.

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.