Jump Financial LLC Acquires 62,001 Shares of Hormel Foods Co. (NYSE:HRL)

Jump Financial LLC boosted its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 1,170.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,300 shares of the company's stock after buying an additional 62,001 shares during the quarter. Jump Financial LLC's holdings in Hormel Foods were worth $2,161,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Janiczek Wealth Management LLC raised its position in Hormel Foods by 100.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company's stock valued at $66,000 after purchasing an additional 1,033 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Hormel Foods by 21.1% during the fourth quarter. Federated Hermes Inc. now owns 2,069 shares of the company's stock worth $66,000 after acquiring an additional 361 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Hormel Foods by 516.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,546 shares of the company's stock worth $82,000 after acquiring an additional 2,133 shares during the last quarter. RIA Advisory Group LLC bought a new position in shares of Hormel Foods during the fourth quarter worth about $86,000. Finally, Covestor Ltd raised its position in shares of Hormel Foods by 23.7% during the third quarter. Covestor Ltd now owns 2,927 shares of the company's stock worth $111,000 after acquiring an additional 561 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the business's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.18, for a total value of $526,372.00. Following the sale, the vice president now directly owns 68,029 shares in the company, valued at $2,325,231.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Kevin L. Myers sold 10,000 shares of the business's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the sale, the senior vice president now directly owns 38,708 shares in the company, valued at approximately $1,352,844.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mark A. Coffey sold 15,400 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the sale, the vice president now owns 68,029 shares in the company, valued at $2,325,231.22. The disclosure for this sale can be found here. Insiders have sold a total of 40,800 shares of company stock worth $1,414,872 over the last ninety days. 0.69% of the stock is currently owned by company insiders.

Hormel Foods Stock Up 0.6 %

Shares of NYSE:HRL traded up $0.23 during mid-day trading on Tuesday, hitting $35.78. 1,599,168 shares of the company traded hands, compared to its average volume of 2,910,956. The stock has a market cap of $19.60 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.44 and a beta of 0.28. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $41.73. The stock has a 50-day moving average price of $34.74 and a two-hundred day moving average price of $32.62.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.91 billion. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. Hormel Foods's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, equities research analysts forecast that Hormel Foods Co. will post 1.59 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th will be paid a $0.2825 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.13 annualized dividend and a dividend yield of 3.16%. Hormel Foods's payout ratio is presently 77.40%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HRL shares. JPMorgan Chase & Co. raised their price objective on Hormel Foods from $27.00 to $28.00 and gave the stock an "underweight" rating in a research report on Friday, March 1st. Citigroup initiated coverage on Hormel Foods in a research note on Thursday, February 1st. They set a "neutral" rating and a $31.00 target price for the company. The Goldman Sachs Group raised their target price on Hormel Foods from $26.00 to $28.00 and gave the stock a "sell" rating in a research note on Friday, March 1st. Finally, Barclays raised their price objective on Hormel Foods from $33.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, Hormel Foods has an average rating of "Hold" and a consensus target price of $31.00.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.