Nebula Research & Development LLC lessened its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 55.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,244 shares of the company's stock after selling 29,692 shares during the quarter. Nebula Research & Development LLC's holdings in Hormel Foods were worth $761,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Hormel Foods by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company's stock valued at $1,168,257,000 after purchasing an additional 268,328 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Hormel Foods by 7.3% in the 4th quarter. Invesco Ltd. now owns 7,843,207 shares of the company's stock valued at $246,041,000 after purchasing an additional 533,657 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Hormel Foods by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,461,100 shares of the company's stock valued at $233,459,000 after purchasing an additional 98,442 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Hormel Foods by 33.9% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Hormel Foods by 20.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,751,307 shares of the company's stock valued at $117,674,000 after purchasing an additional 634,630 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company's stock.
Insider Activity
In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was 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 in the company, valued at approximately $2,902,835.20. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on HRL. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Bank of America raised 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 note on Tuesday, April 15th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Hormel Foods presently has a consensus rating of "Hold" and a consensus price target of $32.33.
Read Our Latest Research Report on HRL
Hormel Foods Stock Performance
Shares of HRL stock traded up $0.29 during midday trading on Wednesday, hitting $29.90. 3,311,975 shares of the company were exchanged, compared to its average volume of 2,585,104. 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 firm has a market capitalization of $16.44 billion, a P/E ratio of 20.48, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The firm's 50 day moving average price is $29.83 and its two-hundred day moving average price is $30.45.
Hormel Foods Announces Dividend
The company also recently announced 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 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's payout ratio is presently 84.67%.
About Hormel Foods
(
Free Report)
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.
Further Reading
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