Two Sigma Advisers LP Purchases 1,819,100 Shares of Hormel Foods Co. (NYSE:HRL)

Two Sigma Advisers LP raised its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 496.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,185,600 shares of the company's stock after buying an additional 1,819,100 shares during the quarter. Two Sigma Advisers LP owned 0.40% of Hormel Foods worth $68,562,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of Hormel Foods in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC bought a new position in Hormel Foods during the 4th quarter worth $44,000. Capital Advisors Ltd. LLC increased 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. Headlands Technologies LLC acquired a new position in Hormel Foods in the 4th quarter valued at $48,000. Finally, Lindbrook Capital LLC lifted its position in shares of Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock valued at $48,000 after acquiring an additional 729 shares during the period. Institutional investors own 40.99% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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 transaction of $136,800.00. Following the sale, the director now directly owns 95,488 shares of the company's stock, valued at approximately $2,902,835.20. The trade was a 4.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company's stock.

Hormel Foods Price Performance

Hormel Foods stock opened at $30.14 on Tuesday. 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 Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The stock has a market capitalization of $16.57 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. The stock has a fifty day moving average of $29.92 and a 200-day moving average of $30.29.

Hormel Foods Announces Dividend

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

About Hormel Foods

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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