Focus Partners Wealth Boosts Stake in Hormel Foods Co. (NYSE:HRL)

Focus Partners Wealth lifted its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 132.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,345 shares of the company's stock after buying an additional 9,883 shares during the period. Focus Partners Wealth's holdings in Hormel Foods were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Avanza Fonder AB purchased a new position in Hormel Foods during the fourth quarter worth about $919,000. Merit Financial Group LLC purchased a new position in Hormel Foods during the fourth quarter worth about $258,000. HB Wealth Management LLC raised its stake in Hormel Foods by 5.4% during the fourth quarter. HB Wealth Management LLC now owns 24,642 shares of the company's stock worth $773,000 after purchasing an additional 1,267 shares during the period. Clarius Group LLC purchased a new position in Hormel Foods during the fourth quarter worth about $213,000. Finally, FLC Capital Advisors purchased a new position in Hormel Foods during the fourth quarter worth about $216,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Price Performance

Shares of HRL opened at $30.14 on Tuesday. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86. The stock has a market cap of $16.57 billion, a PE ratio of 20.64, a P/E/G ratio of 2.73 and a beta of 0.34. The firm has a 50-day simple moving average of $29.92 and a two-hundred day simple moving average of $30.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19.

Hormel Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, July 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.85%. Hormel Foods's dividend payout ratio is presently 84.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HRL shares. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $29.00 to $35.00 in a research note on Tuesday, April 15th. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, Stephens reiterated an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Hormel Foods has a consensus rating of "Hold" and a consensus target price of $32.33.

Insider Buying and Selling at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction that occurred on Thursday, March 27th. The shares were 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. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.72% of the company's stock.

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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