Exencial Wealth Advisors LLC Raises Stock Position in Hormel Foods Co. (NYSE:HRL)

Exencial Wealth Advisors LLC lifted its position in Hormel Foods Co. (NYSE:HRLGet Rating) by 57.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 219,674 shares of the company’s stock after buying an additional 80,497 shares during the period. Exencial Wealth Advisors LLC’s holdings in Hormel Foods were worth $10,722,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sandy Cove Advisors LLC purchased a new position in shares of Hormel Foods in the 4th quarter worth approximately $31,000. Whittier Trust Co. boosted its stake in Hormel Foods by 61.5% in the 4th quarter. Whittier Trust Co. now owns 646 shares of the company’s stock worth $32,000 after purchasing an additional 246 shares in the last quarter. Leverty Financial Group LLC acquired a new stake in Hormel Foods in the 4th quarter worth approximately $32,000. First Command Financial Services Inc. acquired a new stake in Hormel Foods in the 4th quarter worth approximately $49,000. Finally, West Bancorporation Inc. acquired a new stake in Hormel Foods in the 4th quarter worth approximately $49,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Elsa A. Murano sold 5,000 shares of the business’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $51.56, for a total value of $257,800.00. Following the completion of the sale, the director now owns 105,169 shares of the company’s stock, valued at approximately $5,422,513.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Steven J. Lykken sold 16,000 shares of the business’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $50.18, for a total transaction of $802,880.00. The disclosure for this sale can be found here. In the last three months, insiders sold 47,636 shares of company stock valued at $2,440,842. 0.78% of the stock is owned by insiders.

HRL has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Hormel Foods in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Argus upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, March 10th. Credit Suisse Group lifted their price objective on shares of Hormel Foods from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, March 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Hormel Foods from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, March 2nd. Finally, The Goldman Sachs Group cut shares of Hormel Foods from a “neutral” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Tuesday, March 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and an average target price of $48.86.

Shares of HRL traded up $0.89 during trading hours on Friday, hitting $53.21. The stock had a trading volume of 1,404,772 shares, compared to its average volume of 1,673,739. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.21 and a current ratio of 2.19. The firm has a 50-day moving average price of $51.81 and a 200 day moving average price of $48.36. Hormel Foods Co. has a fifty-two week low of $40.48 and a fifty-two week high of $55.11. The firm has a market capitalization of $29.00 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 3.39 and a beta of 0.09.

Hormel Foods (NYSE:HRLGet Rating) last posted its earnings results on Tuesday, March 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Hormel Foods had a net margin of 7.74% and a return on equity of 13.94%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the business posted $0.41 EPS. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, analysts predict that Hormel Foods Co. will post 1.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Monday, April 11th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, April 8th. Hormel Foods’s payout ratio is presently 61.54%.

Hormel Foods Company Profile (Get Rating)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

Further Reading

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

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