WBI Investments LLC Acquires New Holdings in Hormel Foods Co. (NYSE:HRL)

WBI Investments LLC acquired a new position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 84,764 shares of the company's stock, valued at approximately $2,659,000.

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

Insider Activity

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated 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 in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company's stock.

Hormel Foods Stock Performance

Shares of HRL traded up $0.02 during midday trading on Friday, hitting $29.47. 2,770,828 shares of the stock traded hands, compared to its average volume of 2,646,123. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $35.25. The firm has a market capitalization of $16.21 billion, a PE ratio of 20.18, a price-to-earnings-growth 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 price is $29.91 and its two-hundred day moving average price is $30.27.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Monday, July 14th. Hormel Foods's dividend payout ratio (DPR) is 84.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $29.00 to $35.00 in a report on Tuesday, April 15th. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $32.33.

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.