Deutsche Bank AG Purchases 342,225 Shares of Hormel Foods Co. (NYSE:HRL)

Deutsche Bank AG boosted its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 28.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,545,455 shares of the company's stock after buying an additional 342,225 shares during the quarter. Deutsche Bank AG owned approximately 0.28% of Hormel Foods worth $48,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HRL. Franklin Resources Inc. grew its position in shares of Hormel Foods by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 50,526 shares of the company's stock worth $1,578,000 after buying an additional 1,651 shares during the last quarter. Czech National Bank grew its position in shares of Hormel Foods by 6.4% in the 4th quarter. Czech National Bank now owns 63,015 shares of the company's stock worth $1,977,000 after buying an additional 3,817 shares during the last quarter. Exeter Financial LLC grew its position in shares of Hormel Foods by 15.1% in the 4th quarter. Exeter Financial LLC now owns 16,428 shares of the company's stock worth $515,000 after buying an additional 2,153 shares during the last quarter. Sanders Morris Harris LLC grew its position in shares of Hormel Foods by 51.1% in the 4th quarter. Sanders Morris Harris LLC now owns 16,850 shares of the company's stock worth $537,000 after buying an additional 5,700 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Hormel Foods in the 4th quarter worth approximately $919,000. 40.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 95,488 shares of the company's stock, valued at $2,902,835.20. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Hormel Foods Stock Performance

Shares of HRL stock opened at $29.35 on Wednesday. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The stock has a market cap of $16.14 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The company's fifty day moving average price is $29.90 and its 200-day moving average price is $30.32.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's dividend payout ratio (DPR) is presently 84.67%.

Hormel Foods 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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