Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Hormel Foods Co. (NYSE:HRL)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Hormel Foods Co. (NYSE:HRL) by 43.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,373 shares of the company’s stock after purchasing an additional 52,373 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Hormel Foods were worth $5,286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HRL. EverSource Wealth Advisors LLC boosted its holdings in shares of Hormel Foods by 688.3% in the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 647 shares during the period. CVA Family Office LLC bought a new position in shares of Hormel Foods during the 1st quarter worth $31,000. International Assets Investment Management LLC bought a new position in shares of Hormel Foods during the 2nd quarter worth $34,000. Central Valley Advisors LLC purchased a new position in shares of Hormel Foods during the second quarter valued at $37,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Hormel Foods in the first quarter valued at about $42,000. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Stock Up 0.8 %

Shares of HRL opened at $31.35 on Friday. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $17.19 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 3.11 and a beta of 0.25. The stock’s 50-day moving average price is $32.01 and its 200-day moving average price is $32.74. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $38.27.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Hormel Foods Co. will post 1.58 EPS for the current year.

Hormel Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.282 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Tuesday, October 15th. Hormel Foods’s dividend payout ratio (DPR) is 80.71%.

Insider Buying and Selling at Hormel Foods

In other news, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction on Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the transaction, the executive vice president now owns 72,421 shares in the company, valued at $2,313,850.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the completion of the sale, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total transaction of $327,000.00. Following the completion of the sale, the senior vice president now directly owns 39,050 shares in the company, valued at $1,276,935. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,400 shares of company stock worth $2,288,338. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

HRL has been the topic of several research reports. Stephens initiated coverage on shares of Hormel Foods in a report on Thursday. They set an “equal weight” rating and a $31.00 price objective on the stock. Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $37.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.17.

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.