ExodusPoint Capital Management LP Decreases Stock Holdings in Hormel Foods Co. (NYSE:HRL)

ExodusPoint Capital Management LP decreased its stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 82.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,064 shares of the company's stock after selling 136,978 shares during the quarter. ExodusPoint Capital Management LP's holdings in Hormel Foods were worth $912,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust bought a new position in shares of Hormel Foods during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC bought a new stake in shares of Hormel Foods in the 4th quarter worth about $44,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Hormel Foods by 86.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock valued at $47,000 after acquiring an additional 690 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Hormel Foods during the 4th quarter valued at approximately $48,000. Finally, Lindbrook Capital LLC raised its holdings in Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock valued at $48,000 after buying an additional 729 shares during the period. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 0.1 %

Hormel Foods stock traded up $0.04 during trading hours on Wednesday, hitting $30.42. The company had a trading volume of 205,211 shares, compared to its average volume of 2,567,399. The firm has a market cap of $16.73 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.73 and a beta of 0.31. The company has a 50-day moving average price of $29.52 and a two-hundred day moving average price of $30.53. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued 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 3.81%. Hormel Foods's payout ratio is currently 84.67%.

Insider Buying and Selling at Hormel Foods

In other news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction of $136,800.00. Following the transaction, the director now owns 95,488 shares in the company, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $29.00 to $35.00 in a research note on Tuesday. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, Stephens restated an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Hormel Foods currently has an average rating of "Hold" and a consensus target price of $32.33.

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.