Hormel Foods Corporation $HRL Shares Sold by Kinloch Capital LLC

Kinloch Capital LLC trimmed its position in Hormel Foods Corporation (NYSE:HRL) by 32.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,302 shares of the company’s stock after selling 39,610 shares during the period. Kinloch Capital LLC’s holdings in Hormel Foods were worth $1,951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HRL. GoalVest Advisory LLC bought a new stake in shares of Hormel Foods in the 4th quarter worth $25,000. MUFG Securities EMEA plc bought a new position in Hormel Foods during the second quarter valued at about $26,000. Strive Financial Group LLC bought a new position in Hormel Foods during the fourth quarter valued at about $27,000. Motiv8 Investments LLC acquired a new position in Hormel Foods during the fourth quarter worth about $28,000. Finally, Parkside Financial Bank & Trust raised its position in Hormel Foods by 354.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after acquiring an additional 1,025 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Down 0.8%

Shares of Hormel Foods stock opened at $24.14 on Friday. Hormel Foods Corporation has a 12-month low of $19.70 and a 12-month high of $31.86. The firm has a market capitalization of $13.29 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 2.80 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $21.85 and its 200-day moving average is $23.11.

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. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.Hormel Foods’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. Equities analysts anticipate that Hormel Foods Corporation will post 1.5 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, July 13th. Hormel Foods’s dividend payout ratio (DPR) is presently 137.65%.

Analyst Upgrades and Downgrades

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

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.