OMERS ADMINISTRATION Corp Sells 11,851 Shares of Hormel Foods Co. (NYSE:HRL)

OMERS ADMINISTRATION Corp reduced its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,593 shares of the company's stock after selling 11,851 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Hormel Foods were worth $395,000 at the end of the most recent quarter.

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

Insider Transactions at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $30.40, for a total transaction of $136,800.00. Following the completion of the sale, the director now directly 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.

Hormel Foods Stock Down 1.3%

HRL stock opened at $30.14 on Tuesday. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 20.64, 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. The business's 50-day moving average is $29.92 and its two-hundred day moving average is $30.29. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86.

Hormel Foods Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HRL shares. Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Bank of America upgraded shares of Hormel Foods from an "underperform" rating to a "neutral" rating and lifted 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 set a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $32.33.

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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