Trexquant Investment LP Invests $10.68 Million in Hormel Foods Co. (NYSE:HRL)

Trexquant Investment LP bought a new position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 340,575 shares of the company's stock, valued at approximately $10,684,000. Trexquant Investment LP owned approximately 0.06% of Hormel Foods as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings 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 worth $1,168,257,000 after buying an additional 268,328 shares during the last quarter. State Street Corp boosted its stake in Hormel Foods by 2.5% in the third quarter. State Street Corp now owns 25,068,102 shares of the company's stock valued at $794,659,000 after acquiring an additional 617,308 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Hormel Foods by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,461,100 shares of the company's stock valued at $233,459,000 after acquiring an additional 98,442 shares during the period. Norges Bank bought a new position in shares of Hormel Foods during the 4th quarter valued at approximately $102,598,000. Finally, Stifel Financial Corp increased its stake in shares of Hormel Foods by 5.2% during the 3rd quarter. Stifel Financial Corp now owns 3,267,186 shares of the company's stock worth $103,570,000 after purchasing an additional 162,577 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Price Performance

Shares of NYSE HRL traded down $0.78 during trading hours on Monday, reaching $29.97. 1,477,346 shares of the stock traded hands, compared to its average volume of 2,536,509. The company's 50-day simple moving average is $29.55 and its two-hundred day simple moving average is $30.62. The company has a market capitalization of $16.48 billion, a P/E ratio of 20.55, a price-to-earnings-growth 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 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 business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 3.87%. Hormel Foods's payout ratio is 84.67%.

Analyst Ratings Changes

Several equities analysts have weighed in on HRL shares. Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Stephens reiterated an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Hormel Foods currently has an average rating of "Hold" and a consensus target price of $31.80.

Insider Buying and Selling at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the firm'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 directly owns 95,488 shares of the company's stock, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company's stock.

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.