Two Sigma Investments LP Has $64.41 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Two Sigma Investments LP lifted its holdings in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 466.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,053,160 shares of the company's stock after purchasing an additional 1,690,746 shares during the period. Two Sigma Investments LP owned 0.37% of Hormel Foods worth $64,408,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. lifted its holdings in Hormel Foods by 10.4% during the 4th quarter. D.A. Davidson & CO. now owns 9,905 shares of the company's stock worth $311,000 after buying an additional 934 shares during the period. US Bancorp DE lifted its stake in shares of Hormel Foods by 3.4% in the fourth quarter. US Bancorp DE now owns 626,360 shares of the company's stock worth $19,649,000 after acquiring an additional 20,514 shares during the period. Aviva PLC lifted its stake in shares of Hormel Foods by 58.9% in the fourth quarter. Aviva PLC now owns 313,619 shares of the company's stock worth $9,838,000 after acquiring an additional 116,304 shares during the period. Stifel Financial Corp boosted its holdings in Hormel Foods by 33.9% in the fourth quarter. Stifel Financial Corp now owns 4,374,456 shares of the company's stock valued at $137,227,000 after acquiring an additional 1,107,270 shares during the last quarter. Finally, DnB Asset Management AS increased its position in Hormel Foods by 14.7% during the 4th quarter. DnB Asset Management AS now owns 71,010 shares of the company's stock valued at $2,228,000 after purchasing an additional 9,120 shares during the period. Institutional investors own 40.99% of the company's stock.

Wall Street Analyst Weigh In

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

Hormel Foods Stock Down 1.3%

Shares of NYSE HRL opened at $30.14 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The firm 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 company's fifty day simple moving average is $29.92 and its 200 day simple moving average is $30.29. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86.

Hormel Foods Dividend Announcement

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

Insider Activity at Hormel Foods

In other Hormel Foods 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 value of $136,800.00. Following the completion of the sale, the director now owns 95,488 shares of the company's stock, valued at approximately $2,902,835.20. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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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