52,128 Shares in Hormel Foods Co. (NYSE:HRL) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in Hormel Foods Co. (NYSE:HRL - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 52,128 shares of the company's stock, valued at approximately $1,635,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its stake in shares of Hormel Foods by 10.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company's stock valued at $311,000 after buying an additional 934 shares in the last quarter. US Bancorp DE grew its position in Hormel Foods by 3.4% in the fourth quarter. US Bancorp DE now owns 626,360 shares of the company's stock valued at $19,649,000 after acquiring an additional 20,514 shares in the last quarter. Liberty One Investment Management LLC grew its position in Hormel Foods by 3.1% in the fourth quarter. Liberty One Investment Management LLC now owns 862,308 shares of the company's stock valued at $27,051,000 after acquiring an additional 26,121 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Hormel Foods by 14.7% during the fourth quarter. DnB Asset Management AS now owns 71,010 shares of the company's stock valued at $2,228,000 after purchasing an additional 9,120 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Hormel Foods by 13.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 929,871 shares of the company's stock worth $29,170,000 after purchasing an additional 111,454 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Stock Performance

Hormel Foods stock traded down $0.87 during mid-day trading on Monday, reaching $29.87. The company's stock had a trading volume of 1,586,059 shares, compared to its average volume of 3,070,426. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86. The business has a 50 day moving average price of $29.55 and a 200-day moving average price of $30.62. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 3.88%. Hormel Foods's dividend payout ratio (DPR) is 84.67%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HRL shares. Stephens reissued an "equal weight" rating and issued a $31.00 price objective 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 analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.80.

Insider Transactions at Hormel Foods

In other 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 transaction, the director now owns 95,488 shares of the company's stock, valued at approximately $2,902,835.20. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.