Hormel Foods Co. (NYSE:HRL) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,528 shares of the company's stock after acquiring an additional 14,886 shares during the period. Cibc World Markets Corp's holdings in Hormel Foods were worth $3,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in Hormel Foods by 2.5% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in Hormel Foods by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company's stock worth $232,646,000 after buying an additional 120,212 shares during the last quarter. Stifel Financial Corp increased its position in Hormel Foods by 5.2% during the third 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. Bank of New York Mellon Corp raised its position in shares of 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 valued at $91,810,000 after buying an additional 1,175,087 shares during the period. Finally, Holocene Advisors LP raised its holdings in Hormel Foods by 56.0% in the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company's stock valued at $70,934,000 after buying an additional 802,816 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Hormel Foods Stock Down 1.5 %

Shares of NYSE:HRL traded down $0.45 during trading on Tuesday, hitting $28.81. The company's stock had a trading volume of 3,311,420 shares, compared to its average volume of 2,424,236. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The business has a 50 day moving average price of $29.52 and a two-hundred day moving average price of $30.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The company has a market capitalization of $15.84 billion, a PE ratio of 19.73, a P/E/G ratio of 2.73 and a beta of 0.21.

Hormel Foods Announces Dividend

The business also recently announced 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 4.03%. Hormel Foods's payout ratio is 84.67%.

Wall Street Analyst Weigh In

A number of research analysts have commented on HRL shares. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Stephens reissued an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.