Hormel Foods Co. (NYSE:HRL) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 528,135 shares of the company's stock after selling 112,654 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.10% of Hormel Foods worth $16,568,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Hormel Foods during the third quarter valued at approximately $144,000. Townsquare Capital LLC acquired a new stake in Hormel Foods during the 3rd quarter valued at $290,000. Public Sector Pension Investment Board increased its stake in Hormel Foods by 17.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,206 shares of the company's stock worth $355,000 after buying an additional 1,700 shares during the period. Captrust Financial Advisors lifted its holdings in Hormel Foods by 3.5% in the 3rd quarter. Captrust Financial Advisors now owns 13,690 shares of the company's stock worth $434,000 after buying an additional 459 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Hormel Foods in the 3rd quarter valued at about $2,378,000. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the business's stock in a transaction 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 completion of the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.72% of the company's stock.

Hormel Foods Stock Up 1.4 %

Shares of HRL traded up $0.42 during midday trading on Wednesday, hitting $29.74. The company had a trading volume of 4,225,912 shares, compared to its average volume of 2,558,497. 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 Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The company's 50 day moving average price is $29.46 and its 200 day moving average price is $30.56. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.73 and a beta of 0.31.

Hormel Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's dividend payout ratio is presently 84.67%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HRL shares. Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. 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. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $31.80.

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.