Fourth Sail Capital LP Grows Stake in Hormel Foods Corporation $HRL

Fourth Sail Capital LP increased its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 104.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,441,662 shares of the company’s stock after acquiring an additional 736,662 shares during the period. Hormel Foods accounts for about 5.5% of Fourth Sail Capital LP’s holdings, making the stock its 5th biggest holding. Fourth Sail Capital LP’s holdings in Hormel Foods were worth $34,167,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new position in Hormel Foods during the second quarter worth approximately $26,000. GoalVest Advisory LLC acquired a new position in Hormel Foods during the fourth quarter worth approximately $25,000. Parkside Financial Bank & Trust increased its position in Hormel Foods by 354.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after buying an additional 1,025 shares during the last quarter. Ankerstar Wealth LLC acquired a new position in Hormel Foods during the fourth quarter worth approximately $35,000. Finally, Brown Brothers Harriman & Co. increased its position in Hormel Foods by 514.6% during the third quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock worth $37,000 after buying an additional 1,266 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

Hormel Foods stock opened at $24.78 on Friday. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $31.86. The stock’s 50 day moving average is $21.65 and its 200-day moving average is $23.07. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.85 and a beta of 0.35.

Hormel Foods (NYSE:HRL) last posted 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. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts expect that Hormel Foods Corporation will post 1.5 EPS for the current year.

Hormel Foods Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 4.7%. Hormel Foods’s dividend payout ratio is presently 137.65%.

Wall Street Analyst Weigh In

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

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.