AssuredPartners Investment Advisors LLC Invests $440,000 in Hormel Foods Co. (NYSE:HRL)

AssuredPartners Investment Advisors LLC acquired a new stake in Hormel Foods Co. (NYSE:HRL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,013 shares of the company's stock, valued at approximately $440,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HRL. Bank of New York Mellon Corp raised its stake in Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company's stock worth $91,810,000 after acquiring an additional 1,175,087 shares in the last quarter. Holocene Advisors LP boosted its stake in Hormel Foods by 56.0% during the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company's stock worth $70,934,000 after purchasing an additional 802,816 shares during the period. State Street Corp grew its position in Hormel Foods by 2.5% during the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company's stock worth $794,659,000 after purchasing an additional 617,308 shares during the last quarter. Van ECK Associates Corp acquired a new position in Hormel Foods in the fourth quarter valued at $16,612,000. Finally, Vanguard Group Inc. raised its holdings in shares of Hormel Foods by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company's stock valued at $1,168,257,000 after buying an additional 268,328 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Remove Ads

Hormel Foods Stock Performance

NYSE HRL traded down $0.09 on Tuesday, hitting $30.85. 495,627 shares of the company's stock were exchanged, compared to its average volume of 2,532,582. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 2.73 and a beta of 0.21. The firm's 50-day moving average price is $29.54 and its two-hundred day moving average price is $30.66. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 3.76%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's dividend payout ratio is currently 84.67%.

Analyst Ratings Changes

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

Hormel Foods Company 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.