Distillate Capital Partners LLC Purchases New Shares in Hormel Foods Co. (NYSE:HRL)

Distillate Capital Partners LLC bought a new stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 513,858 shares of the company's stock, valued at approximately $16,120,000. Distillate Capital Partners LLC owned 0.09% of Hormel Foods as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Crews Bank & Trust bought a new stake in Hormel Foods during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC bought a new position in Hormel Foods during the fourth quarter valued at $44,000. Capital Advisors Ltd. LLC increased its stake in Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after acquiring an additional 690 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Hormel Foods in the 4th quarter worth about $48,000. Finally, Lindbrook Capital LLC lifted its position in shares of Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after purchasing an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Wall Street Analysts Forecast Growth

HRL has been the subject of several recent research reports. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Bank of America upgraded shares of Hormel Foods from an "underperform" rating to a "neutral" rating and set a $35.00 price objective on the stock in a report on Tuesday. Finally, Stephens reissued an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $32.33.

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Hormel Foods Stock Performance

Shares of HRL traded up $0.07 during mid-day trading on Tuesday, reaching $30.62. The company had a trading volume of 140,985 shares, compared to its average volume of 2,568,287. The stock has a 50 day moving average of $29.50 and a two-hundred day moving average of $30.53. 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 capitalization of $16.84 billion, a P/E ratio of 20.95, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86.

Hormel Foods Dividend Announcement

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

Insider Activity at Hormel Foods

In other news, Director Elsa A. Murano sold 4,500 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $30.40, for a total transaction of $136,800.00. Following the sale, the director now directly owns 95,488 shares of the company's stock, valued at $2,902,835.20. This represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company 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.