Crestline Management LP Raises Position in Hormel Foods Co. (NYSE:HRL)

Crestline Management LP lifted its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 74.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,887 shares of the company's stock after purchasing an additional 157,750 shares during the period. Crestline Management LP owned 0.07% of Hormel Foods worth $11,572,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HRL. Crews Bank & Trust purchased a new stake in Hormel Foods in the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in Hormel Foods in the 4th quarter worth approximately $44,000. Capital Advisors Ltd. LLC raised its stake in Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after acquiring an additional 690 shares during the period. Lindbrook Capital LLC lifted its holdings in Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock valued at $48,000 after purchasing an additional 729 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Hormel Foods in the fourth quarter worth approximately $48,000. 40.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Hormel Foods Stock Performance

Shares of NYSE HRL opened at $29.24 on Tuesday. The firm's fifty day moving average is $29.85 and its two-hundred day moving average is $30.39. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The company has a market cap of $16.08 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.73 and a beta of 0.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's dividend payout ratio is presently 84.67%.

Insider Activity

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company's stock.

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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