Hormel Foods Co. (NYSE:HRL) Stake Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,015 shares of the company's stock after selling 17,070 shares during the quarter. Corient Private Wealth LLC's holdings in Hormel Foods were worth $1,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Greenleaf Trust increased its position in shares of Hormel Foods by 4.4% during the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company's stock valued at $252,000 after purchasing an additional 336 shares during the period. CFS Investment Advisory Services LLC grew its stake in shares of Hormel Foods by 2.8% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company's stock worth $422,000 after purchasing an additional 360 shares during the last quarter. Empower Advisory Group LLC raised its holdings in shares of Hormel Foods by 4.0% in the 4th quarter. Empower Advisory Group LLC now owns 10,038 shares of the company's stock worth $315,000 after purchasing an additional 389 shares in the last quarter. New Century Financial Group LLC lifted its stake in Hormel Foods by 6.2% during the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company's stock valued at $211,000 after purchasing an additional 392 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in Hormel Foods by 4.8% during the third quarter. MML Investors Services LLC now owns 9,108 shares of the company's stock worth $289,000 after buying an additional 416 shares in the last quarter. Institutional investors own 40.99% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HRL. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Stephens reiterated an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.80.

Hormel Foods Trading Up 0.1 %

NYSE HRL traded up $0.04 on Friday, hitting $30.36. 2,168,312 shares of the stock were exchanged, compared to its average volume of 2,537,270. The company's 50-day moving average price is $29.52 and its two-hundred day moving average price is $30.67. 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 Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.73 and a beta of 0.21.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. Hormel Foods's dividend payout ratio is 84.67%.

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.