Tidal Investments LLC Has $915,000 Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Tidal Investments LLC reduced its position in Hormel Foods Co. (NYSE:HRL) by 36.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 28,857 shares of the company’s stock after selling 16,298 shares during the period. Tidal Investments LLC’s holdings in Hormel Foods were worth $915,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Empower Advisory Group LLC raised its position in shares of Hormel Foods by 3.7% in the third quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock valued at $306,000 after purchasing an additional 342 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Hormel Foods by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock worth $959,000 after acquiring an additional 384 shares during the last quarter. MML Investors Services LLC grew its position in shares of Hormel Foods by 4.8% in the third quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock valued at $289,000 after purchasing an additional 416 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Hormel Foods by 4.0% during the third quarter. Quantinno Capital Management LP now owns 11,156 shares of the company’s stock worth $354,000 after purchasing an additional 424 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Hormel Foods by 3.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,690 shares of the company’s stock worth $434,000 after purchasing an additional 459 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insider Transactions at Hormel Foods

In related news, VP Steven J. Lykken purchased 4,904 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average cost of $32.47 per share, with a total value of $159,232.88. Following the acquisition, the vice president now owns 7,100 shares of the company’s stock, valued at $230,537. This trade represents a 223.32 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by insiders.

Hormel Foods Trading Up 0.3 %

HRL opened at $31.68 on Friday. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 3.14 and a beta of 0.26. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $36.86. The company has a 50-day simple moving average of $31.35 and a 200 day simple moving average of $31.42.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Analysts predict that Hormel Foods Co. will post 1.65 EPS for the current fiscal 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 paid a $0.29 dividend. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 13th. This represents a $1.16 annualized dividend and a dividend yield of 3.66%. Hormel Foods’s dividend payout ratio (DPR) is presently 79.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stephens initiated coverage on Hormel Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price objective on the stock. BNP Paribas began coverage on shares of Hormel Foods in a research note on Monday, October 21st. They issued an “underperform” rating and a $28.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.29.

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.