Creative Planning Purchases 9,127 Shares of Hormel Foods Co. (NYSE:HRL)

Creative Planning increased its position in Hormel Foods Co. (NYSE:HRL) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,651 shares of the company’s stock after acquiring an additional 9,127 shares during the quarter. Creative Planning’s holdings in Hormel Foods were worth $3,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new position in shares of Hormel Foods during the 1st quarter worth about $42,000. Oak Thistle LLC bought a new stake in shares of Hormel Foods in the first quarter valued at approximately $610,000. Capital Advisors Ltd. LLC grew its stake in shares of Hormel Foods by 774.8% in the first quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock worth $42,000 after acquiring an additional 1,077 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in Hormel Foods during the first quarter worth $206,000. Finally, First Trust Direct Indexing L.P. raised its stake in Hormel Foods by 2.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 20,291 shares of the company’s stock valued at $708,000 after purchasing an additional 389 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insider Activity

In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the sale, the executive vice president now owns 72,421 shares of the company’s stock, valued at $2,313,850.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the company’s 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 of the company’s stock, valued at approximately $2,313,850.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the sale, the senior vice president now directly owns 39,050 shares of the company’s stock, 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. Over the last ninety days, insiders sold 71,400 shares of company stock worth $2,288,338. 0.69% of the stock is owned by corporate insiders.

Hormel Foods Stock Down 0.1 %

Shares of NYSE:HRL opened at $31.06 on Friday. The company’s fifty day moving average is $31.79 and its 200-day moving average is $32.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $36.86. The company has a market capitalization of $17.03 billion, a PE ratio of 22.19, a P/E/G ratio of 3.06 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Equities research analysts predict that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal 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 issued a dividend of $0.282 per share. This represents a $1.13 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s payout ratio is presently 80.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HRL shares. BNP Paribas assumed coverage on Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price on the stock. Stephens started coverage on Hormel Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 target price for the company. Finally, Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Hormel Foods presently has an average rating of “Hold” and a consensus target price of $31.57.

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.