Hormel Foods Co. (NYSE:HRL) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC lowered its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,233,137 shares of the company's stock after selling 336,675 shares during the period. Hormel Foods makes up about 1.0% of Champlain Investment Partners LLC's investment portfolio, making the stock its 28th biggest position. Champlain Investment Partners LLC owned approximately 0.95% of Hormel Foods worth $164,164,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Hormel Foods during the 4th quarter worth approximately $102,598,000. Bank of New York Mellon Corp raised its holdings in shares of Hormel Foods by 67.1% in the fourth 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 during the last quarter. Invesco Ltd. lifted its position in shares of Hormel Foods by 7.3% in the fourth quarter. Invesco Ltd. now owns 7,843,207 shares of the company's stock valued at $246,041,000 after acquiring an additional 533,657 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Hormel Foods during the fourth quarter valued at $16,612,000. Finally, Distillate Capital Partners LLC purchased a new stake in Hormel Foods during the 4th quarter worth about $16,120,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 0.7 %

Shares of HRL stock traded up $0.20 on Tuesday, reaching $30.60. 467,836 shares of the stock were exchanged, compared to its average volume of 2,573,431. The firm has a 50 day moving average of $29.65 and a two-hundred day moving average of $30.49. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year 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. The stock has a market cap of $16.83 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31.

Hormel Foods Announces Dividend

The firm also recently announced 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. This represents a $1.16 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's dividend payout ratio (DPR) is presently 84.67%.

Insider Activity at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of the sale, the director now directly owns 95,488 shares in the company, valued at approximately $2,902,835.20. This represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stephens restated an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, Bank of America upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $29.00 to $35.00 in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Hormel Foods currently has an average rating of "Hold" and an average target price of $32.33.

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.