Hsbc Holdings PLC Has $21.91 Million Position in Hormel Foods Co. (NYSE:HRL)

Hsbc Holdings PLC grew its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 699,941 shares of the company's stock after buying an additional 26,962 shares during the quarter. Hsbc Holdings PLC owned 0.13% of Hormel Foods worth $21,907,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Greenleaf Trust boosted its stake in Hormel Foods by 4.4% in the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company's stock worth $252,000 after purchasing an additional 336 shares during the period. CFS Investment Advisory Services LLC lifted its holdings in shares of Hormel Foods by 2.8% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company's stock valued at $422,000 after purchasing an additional 360 shares in the last quarter. Empower Advisory Group LLC boosted its position in shares of Hormel Foods by 4.0% during the fourth quarter. Empower Advisory Group LLC now owns 10,038 shares of the company's stock worth $315,000 after buying an additional 389 shares during the period. New Century Financial Group LLC grew its holdings in shares of Hormel Foods by 6.2% during the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company's stock worth $211,000 after buying an additional 392 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its position in Hormel Foods by 15.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,097 shares of the company's stock valued at $97,000 after buying an additional 423 shares during the last quarter. Institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Down 0.3 %

Shares of NYSE:HRL traded down $0.10 during midday trading on Friday, hitting $29.30. The stock had a trading volume of 543,676 shares, compared to its average volume of 2,579,582. The company has a market cap of $16.11 billion, a P/E ratio of 20.07, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The business's 50-day simple moving average is $29.84 and its 200-day simple moving average is $30.44. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Monday, April 14th. Hormel Foods's dividend payout ratio (DPR) is presently 84.67%.

Insider Transactions at Hormel Foods

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the business'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 transaction of $136,800.00. Following the transaction, the director now owns 95,488 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HRL shares. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $29.00 to $35.00 in a research note on Tuesday, April 15th. Stephens reaffirmed an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. One equities research 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.com, Hormel Foods currently has an average rating of "Hold" and an average price target of $32.33.

Hormel Foods 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.