ProShare Advisors LLC grew its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 7.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,072,682 shares of the company's stock after buying an additional 413,669 shares during the period. ProShare Advisors LLC owned approximately 1.11% of Hormel Foods worth $190,500,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in HRL. Crews Bank & Trust acquired a new position in shares of Hormel Foods in the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $44,000. Capital Advisors Ltd. LLC grew its holdings in shares of Hormel Foods by 86.9% in 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 period. Lindbrook Capital LLC grew its holdings in shares of Hormel Foods by 91.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock valued at $48,000 after buying an additional 729 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 40.99% of the company's stock.
Hormel Foods Stock Performance
Hormel Foods stock traded up $0.37 during trading hours on Friday, hitting $30.53. The company had a trading volume of 3,067,893 shares, compared to its average volume of 2,634,501. The firm has a 50-day moving average of $29.90 and a 200 day moving average of $30.30. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The firm has a market cap of $16.79 billion, a PE ratio of 20.91, a PEG ratio of 2.73 and a beta of 0.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19.
Hormel Foods Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 14th were given a dividend of $0.29 per share. The ex-dividend date was Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.80%. Hormel Foods's payout ratio is presently 84.67%.
Analyst Ratings Changes
HRL has been the subject of a number of recent research reports. Stephens restated an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and upped their target price for the company from $29.00 to $35.00 in a report on Tuesday, April 15th. One 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 data from MarketBeat.com, Hormel Foods presently has an average rating of "Hold" and an average price target of $32.33.
Get Our Latest Analysis on Hormel Foods
Insider Buying and Selling
In related news, Director Elsa A. Murano sold 4,500 shares of the stock in a transaction that occurred on 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 owns 95,488 shares in the company, 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 SEC, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.
Hormel Foods Company Profile
(
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.
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