Register Financial Advisors LLC Makes New Investment in Hormel Foods Co. (NYSE:HRL)

Register Financial Advisors LLC bought a new position in Hormel Foods Co. (NYSE:HRL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,216 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HRL. Federated Hermes Inc. lifted its position in Hormel Foods by 21.1% in the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock valued at $66,000 after purchasing an additional 361 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Hormel Foods by 4.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,663 shares of the company’s stock valued at $310,000 after buying an additional 403 shares in the last quarter. Insight Folios Inc boosted its stake in shares of Hormel Foods by 6.5% in the fourth quarter. Insight Folios Inc now owns 7,013 shares of the company’s stock valued at $225,000 after buying an additional 429 shares in the last quarter. Carlson Capital Management grew its holdings in Hormel Foods by 6.2% during the third quarter. Carlson Capital Management now owns 7,878 shares of the company’s stock worth $300,000 after acquiring an additional 457 shares during the period. Finally, Kentucky Retirement Systems raised its position in Hormel Foods by 2.1% in the fourth quarter. Kentucky Retirement Systems now owns 23,174 shares of the company’s stock worth $744,000 after acquiring an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of Hormel Foods from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. The Goldman Sachs Group upped their target price on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $28.00 to $29.00 in a research report on Friday, May 31st. Barclays upped their price target on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $32.00 price objective on shares of Hormel Foods in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.67.

Hormel Foods Trading Up 0.9 %

Shares of HRL opened at $30.49 on Friday. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $41.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.73 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $33.29 and a 200-day simple moving average of $32.65. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 2.90 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, May 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Hormel Foods had a return on equity of 11.31% and a net margin of 6.37%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the business posted $0.40 earnings per share. Hormel Foods’s revenue was down 2.9% compared to the same quarter last year. Equities 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 Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.2825 dividend. This represents a $1.13 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, July 15th. Hormel Foods’s dividend payout ratio (DPR) is currently 80.71%.

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.