Focused Wealth Management Inc Takes Position in Hormel Foods Corp (NYSE:HRL)

Focused Wealth Management Inc bought a new stake in shares of Hormel Foods Corp (NYSE:HRL) during the 3rd quarter, Holdings Channel reports. The fund bought 3,250 shares of the company’s stock, valued at approximately $142,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MUFG Americas Holdings Corp purchased a new stake in Hormel Foods in the second quarter worth $35,000. TRUE Private Wealth Advisors purchased a new stake in Hormel Foods in the second quarter worth $36,000. Dougherty Wealth Advisers LLC grew its stake in Hormel Foods by 350.0% in the second quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock worth $36,000 after purchasing an additional 700 shares during the period. CSat Investment Advisory L.P. grew its stake in Hormel Foods by 153.8% in the second quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock worth $59,000 after purchasing an additional 880 shares during the period. Finally, Country Trust Bank grew its stake in Hormel Foods by 190.7% in the second quarter. Country Trust Bank now owns 1,692 shares of the company’s stock worth $69,000 after purchasing an additional 1,110 shares during the period. 44.41% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods stock traded up $0.28 during mid-day trading on Wednesday, hitting $42.06. The company had a trading volume of 56,408 shares, compared to its average volume of 2,646,908. The company has a current ratio of 2.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $41.89 and its two-hundred day moving average price is $41.34. Hormel Foods Corp has a 12 month low of $37.00 and a 12 month high of $46.26. The company has a market capitalization of $22.41 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.04.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, August 22nd. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Hormel Foods Corp will post 1.73 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, October 21st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, October 18th. Hormel Foods’s dividend payout ratio (DPR) is 44.44%.

In related news, insider Howse Steve 226,215 shares of the business’s stock in a transaction on Friday, October 18th. Also, Director Terrell K. Crews sold 9,046 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $42.35, for a total value of $383,098.10. Following the completion of the sale, the director now directly owns 113,305 shares in the company, valued at $4,798,466.75. The disclosure for this sale can be found here. Insiders sold 126,670 shares of company stock worth $5,520,877 over the last three months. Corporate insiders own 1.11% of the company’s stock.

Several brokerages recently weighed in on HRL. Bank of America began coverage on Hormel Foods in a research note on Friday, October 25th. They issued an “underperform” rating and a $40.00 price target on the stock. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Tuesday, August 27th. ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a research note on Monday. BMO Capital Markets set a $44.00 price target on Hormel Foods and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Stephens set a $37.00 price target on Hormel Foods and gave the stock a “hold” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Hormel Foods presently has an average rating of “Hold” and an average target price of $40.09.

Hormel Foods Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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