Hormel Foods Co. (NYSE:HRL) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in shares of Hormel Foods Co. (NYSE:HRL) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,261 shares of the company’s stock after acquiring an additional 535 shares during the quarter. Fifth Third Bancorp’s holdings in Hormel Foods were worth $4,149,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HRL. Brooklyn Investment Group purchased a new position in Hormel Foods during the third quarter worth approximately $32,000. Prospera Private Wealth LLC purchased a new position in shares of Hormel Foods during the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in Hormel Foods by 516.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after acquiring an additional 1,132 shares during the period. Capital Performance Advisors LLP acquired a new position in Hormel Foods during the third quarter worth $47,000. Finally, McIlrath & Eck LLC lifted its holdings in Hormel Foods by 47.5% during the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock valued at $63,000 after purchasing an additional 638 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken purchased 4,904 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of $32.47 per share, with a total value of $159,232.88. Following the purchase, the vice president now directly owns 7,100 shares in the company, valued at approximately $230,537. This trade represents a 223.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $30.89 on Monday. The business’s 50 day moving average price is $31.32 and its 200 day moving average price is $31.48. The company has a market cap of $16.96 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.84 and a beta of 0.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods Co. has a one year low of $28.51 and a one year high of $36.86.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm posted $0.42 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. On average, research analysts predict that Hormel Foods Co. will post 1.67 EPS for the current year.

Hormel Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Monday, January 13th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. Hormel Foods’s payout ratio is presently 79.45%.

Analyst Ratings Changes

A number of analysts have recently commented on HRL shares. BNP Paribas assumed coverage on shares of Hormel Foods in a research note on Monday, October 21st. They set an “underperform” rating and a $28.00 target price for the company. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Citigroup lowered their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Stephens began coverage on Hormel Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.17.

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.