Mutual of America Capital Management LLC Decreases Position in Hormel Foods Co. (NYSE:HRL)

Mutual of America Capital Management LLC trimmed its holdings in Hormel Foods Co. (NYSE:HRL) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,820 shares of the company’s stock after selling 820 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Hormel Foods were worth $1,135,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 647 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Hormel Foods in the second quarter valued at $34,000. Central Valley Advisors LLC acquired a new position in Hormel Foods in the second quarter valued at $37,000. GAMMA Investing LLC grew its holdings in shares of Hormel Foods by 516.9% during the third quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock worth $43,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in shares of Hormel Foods during the second quarter worth about $42,000. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 2.5 %

NYSE:HRL opened at $31.44 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $31.02 and its 200-day simple moving average is $31.69. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $36.86. The firm has a market cap of $17.24 billion, a P/E ratio of 22.14, a PEG ratio of 3.25 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the business earned $0.40 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current 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 issued a $0.29 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.69%. Hormel Foods’s dividend payout ratio (DPR) is currently 79.58%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HRL. Citigroup decreased their target price on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Stephens began coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. Finally, BNP Paribas assumed coverage on shares of Hormel Foods in a report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.29.

Insider Activity

In other news, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 72,421 shares in the company, valued at approximately $2,313,850.95. This trade represents a 41.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the sale, the vice president now directly owns 30,589 shares in the company, valued at $976,094.99. This trade represents a 24.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock valued at $2,288,338 in the last three months. 0.69% of the stock is currently owned by company insiders.

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.