Bearing Point Capital LLC Acquires New Position in Hormel Foods Co. (NYSE:HRL)

Bearing Point Capital LLC bought a new position in Hormel Foods Co. (NYSE:HRL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,690 shares of the company's stock, valued at approximately $461,000.

A number of other institutional investors have also recently made changes to their positions in the company. Greenleaf Trust increased its holdings in Hormel Foods by 4.4% in the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company's stock valued at $252,000 after acquiring an additional 336 shares during the last quarter. CFS Investment Advisory Services LLC grew its position in shares of Hormel Foods by 2.8% during the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company's stock valued at $422,000 after purchasing an additional 360 shares in the last quarter. Empower Advisory Group LLC lifted its position in shares of Hormel Foods by 4.0% in the fourth quarter. Empower Advisory Group LLC now owns 10,038 shares of the company's stock worth $315,000 after buying an additional 389 shares in the last quarter. New Century Financial Group LLC boosted its stake in Hormel Foods by 6.2% during the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company's stock valued at $211,000 after buying an additional 392 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its stake in Hormel Foods by 15.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,097 shares of the company's stock valued at $97,000 after buying an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Down 0.2 %

Shares of HRL opened at $29.32 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.73 and a beta of 0.34. The company has a 50-day moving average of $29.84 and a 200 day moving average of $30.41. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 3.96%. Hormel Foods's dividend payout ratio (DPR) is currently 84.67%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stephens reaffirmed an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $29.00 to $35.00 in a research note on Tuesday, April 15th. Finally, Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.33.

Insiders Place Their Bets

In other news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction of $136,800.00. Following the transaction, the director now owns 95,488 shares in the company, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

Hormel Foods Company Profile

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.

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