Massmutual Trust Co. FSB ADV Grows Position in Hormel Foods Co. (NYSE:HRL)

Massmutual Trust Co. FSB ADV grew its position in Hormel Foods Co. (NYSE:HRL) by 52.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,950 shares of the company’s stock after purchasing an additional 674 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Hormel Foods were worth $74,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in HRL. Barclays PLC increased its stake in Hormel Foods by 106.7% in the 2nd quarter. Barclays PLC now owns 929,448 shares of the company’s stock valued at $37,382,000 after buying an additional 479,748 shares during the last quarter. Tucker Asset Management LLC boosted its stake in shares of Hormel Foods by 494.9% in the 2nd quarter. Tucker Asset Management LLC now owns 8,823 shares of the company’s stock worth $355,000 after buying an additional 7,340 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its stake in shares of Hormel Foods by 19.3% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 7,289 shares of the company’s stock worth $293,000 after buying an additional 1,177 shares during the last quarter. Comerica Bank purchased a new position in Hormel Foods in the second quarter worth $7,560,000. Finally, Asset Dedication LLC boosted its position in Hormel Foods by 13.0% in the second quarter. Asset Dedication LLC now owns 32,089 shares of the company’s stock worth $1,296,000 after purchasing an additional 3,688 shares during the last quarter. 41.15% of the stock is owned by institutional investors.

Insider Transactions at Hormel Foods

In other Hormel Foods news, SVP Kevin L. Myers sold 5,200 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $30.93, for a total value of $160,836.00. Following the sale, the senior vice president now owns 38,937 shares in the company, valued at $1,204,321.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Kevin L. Myers sold 5,200 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $30.93, for a total transaction of $160,836.00. Following the sale, the senior vice president now directly owns 38,937 shares of the company’s stock, valued at approximately $1,204,321.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Pierre M. Lilly purchased 1,454 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $37.25 per share, for a total transaction of $54,161.50. Following the acquisition, the senior vice president now owns 1,454 shares of the company’s stock, valued at $54,161.50. The disclosure for this purchase can be found here. Insiders own 0.81% of the company’s stock.

Hormel Foods Trading Down 0.4 %

HRL stock traded down $0.14 during midday trading on Friday, hitting $32.52. The company had a trading volume of 3,708,388 shares, compared to its average volume of 2,291,313. The company has a current ratio of 1.40, a quick ratio of 0.65 and a debt-to-equity ratio of 0.31. Hormel Foods Co. has a 52 week low of $30.70 and a 52 week high of $49.73. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 3.79 and a beta of 0.28. The stock’s 50 day moving average price is $34.84 and its 200 day moving average price is $38.13.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, August 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). Hormel Foods had a return on equity of 12.20% and a net margin of 7.20%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Hormel Foods Co. will post 1.64 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 16th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, October 13th. Hormel Foods’s dividend payout ratio is presently 68.32%.

Analyst Ratings Changes

A number of brokerages recently weighed in on HRL. JPMorgan Chase & Co. cut their price target on shares of Hormel Foods from $36.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, October 16th. Piper Sandler dropped their target price on shares of Hormel Foods from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, October 13th. The Goldman Sachs Group dropped their price target on Hormel Foods from $33.00 to $29.00 and set a “sell” rating on the stock in a research report on Friday, October 13th. Finally, StockNews.com initiated coverage on shares of Hormel Foods in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Hormel Foods Company Profile

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.