Hormel Foods Co. (NYSE:HRL) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd lowered its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,298 shares of the company's stock after selling 52,844 shares during the period. USS Investment Management Ltd's holdings in Hormel Foods were worth $4,214,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HRL. D.A. Davidson & CO. lifted its position in Hormel Foods by 10.4% during the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company's stock valued at $311,000 after buying an additional 934 shares during the period. US Bancorp DE increased its holdings in Hormel Foods by 3.4% in the 4th quarter. US Bancorp DE now owns 626,360 shares of the company's stock worth $19,649,000 after buying an additional 20,514 shares in the last quarter. Aviva PLC increased its holdings in Hormel Foods by 58.9% in the 4th quarter. Aviva PLC now owns 313,619 shares of the company's stock worth $9,838,000 after buying an additional 116,304 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Hormel Foods by 33.9% during the 4th quarter. Stifel Financial Corp now owns 4,374,456 shares of the company's stock valued at $137,227,000 after purchasing an additional 1,107,270 shares during the period. Finally, DnB Asset Management AS grew its stake in shares of 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.

Insider Activity at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

Hormel Foods Stock Down 0.9%

Shares of HRL traded down $0.28 during midday trading on Wednesday, reaching $29.92. 1,043,465 shares of the stock were exchanged, compared to its average volume of 2,649,562. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $35.00. 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 50 day moving average is $29.92 and its two-hundred day moving average is $30.26. The company has a market capitalization of $16.45 billion, a P/E ratio of 20.49, a PEG ratio of 2.73 and a beta of 0.34.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, July 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.88%. Hormel Foods's payout ratio is 84.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Stephens restated an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research note on Thursday, May 22nd. BNP Paribas upgraded Hormel Foods from a "strong sell" rating to a "hold" rating in a research note on Tuesday. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price objective on the stock in a report on Tuesday. Finally, Bank of America raised Hormel Foods from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $29.00 to $35.00 in a report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Hormel Foods currently has an average rating of "Hold" and an average price target of $32.00.

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.