Cwm LLC Acquires 13,200 Shares of Hormel Foods Co. (NYSE:HRL)

Cwm LLC lifted its position in shares of Hormel Foods Co. (NYSE:HRL) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 486,932 shares of the company’s stock after acquiring an additional 13,200 shares during the quarter. Cwm LLC’s holdings in Hormel Foods were worth $15,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HRL. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 647 shares during the period. CVA Family Office LLC acquired a new stake in shares of Hormel Foods during the 1st quarter worth $31,000. International Assets Investment Management LLC acquired a new stake in Hormel Foods during the second quarter worth about $34,000. Central Valley Advisors LLC acquired a new stake in Hormel Foods during the second quarter worth about $37,000. Finally, Register Financial Advisors LLC acquired a new stake in Hormel Foods during the first quarter worth about $42,000. Institutional investors own 40.99% of the company’s stock.

Insider Activity at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of Hormel Foods stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the transaction, the vice president now directly owns 30,589 shares of the company’s stock, valued at $976,094.99. 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 through the SEC website. 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 sale, the executive vice president now directly 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 document filed with the SEC, which is available at this hyperlink. Also, VP Steven J. Lykken sold 9,800 shares of Hormel Foods stock in a transaction 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 owns 30,589 shares in the company, valued at $976,094.99. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,400 shares of company stock valued at $2,288,338. 0.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens assumed coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 target price for the company. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and raised their price objective for the company from $33.00 to $37.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.17.

Hormel Foods Stock Performance

Shares of HRL stock opened at $30.99 on Friday. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 3.11 and a beta of 0.25. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $36.99. 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 firm has a 50 day moving average of $31.96 and a 200-day moving average of $32.67.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. On average, equities analysts forecast that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Hormel Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.282 dividend. This represents a $1.13 annualized dividend and a yield of 3.64%. The ex-dividend date is Tuesday, October 15th. Hormel Foods’s payout ratio is currently 80.71%.

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.