Fieldview Capital Management LLC Takes Position in Hormel Foods Corporation $HRL

Fieldview Capital Management LLC acquired a new stake in Hormel Foods Corporation (NYSE:HRL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,031 shares of the company’s stock, valued at approximately $641,000.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in Hormel Foods by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 55,180 shares of the company’s stock worth $1,308,000 after acquiring an additional 437 shares during the last quarter. Advisory Alpha LLC lifted its position in Hormel Foods by 2.9% during the fourth quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock worth $367,000 after acquiring an additional 440 shares during the last quarter. Vermillion Wealth Management Inc. lifted its position in Hormel Foods by 1.7% during the fourth quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company’s stock worth $615,000 after acquiring an additional 441 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Hormel Foods by 6.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 8,583 shares of the company’s stock worth $203,000 after acquiring an additional 483 shares during the last quarter. Finally, Siemens Fonds Invest GmbH boosted its stake in Hormel Foods by 3.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 13,407 shares of the company’s stock valued at $332,000 after purchasing an additional 486 shares during the period. 40.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a research note on Thursday, May 21st. Bank of America boosted their price target on Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Stephens boosted their price target on Hormel Foods from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and a consensus price target of $25.67.

Hormel Foods Stock Down 0.7%

NYSE HRL opened at $24.57 on Tuesday. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $31.86. The company has a 50 day moving average of $21.70 and a 200-day moving average of $23.08. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 2.85 and a beta of 0.35.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, July 13th. Hormel Foods’s payout ratio is presently 137.65%.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.