29,294 Shares in Hormel Foods Corporation $HRL Purchased by Sivia Capital Partners LLC

Sivia Capital Partners LLC purchased a new stake in shares of Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 29,294 shares of the company’s stock, valued at approximately $727,000.

Several other hedge funds have also bought and sold shares of HRL. MUFG Securities EMEA plc purchased a new stake in Hormel Foods in the second quarter worth about $26,000. Strive Financial Group LLC purchased a new position in shares of Hormel Foods during the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC purchased a new position in shares of Hormel Foods during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its position in shares of Hormel Foods by 354.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after purchasing an additional 1,025 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Hormel Foods by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the company’s stock worth $33,000 after purchasing an additional 531 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Insider Buying and Selling

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the transaction, the director owned 32,002 shares of the company’s stock, valued at approximately $784,369.02. The trade was a 38.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of analyst reports. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research report on Thursday, May 21st. Stephens reissued an “equal weight” rating and issued a $25.00 target price on shares of Hormel Foods in a report on Thursday, July 9th. BNP Paribas Exane increased their target price on Hormel Foods from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded Hormel Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Bank of America lifted their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and an average target price of $26.14.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $24.45 on Friday. The firm has a market cap of $13.45 billion, a P/E ratio of 28.76, a PEG ratio of 2.81 and a beta of 0.34. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $29.34. 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 company has a 50 day moving average of $24.90 and a 200 day moving average of $23.46.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. As a group, research analysts expect that Hormel Foods Corporation will post 1.5 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 4.8%. Hormel Foods’s dividend payout ratio (DPR) is 137.65%.

Hormel Foods Profile

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.