First Trust Advisors LP Has $67.09 Million Stake in Hormel Foods Co. (NYSE:HRL)

First Trust Advisors LP reduced its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,138,631 shares of the company's stock after selling 19,182 shares during the period. First Trust Advisors LP owned about 0.39% of Hormel Foods worth $67,089,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HRL. Forum Financial Management LP grew its position in Hormel Foods by 67.7% in the fourth quarter. Forum Financial Management LP now owns 13,260 shares of the company's stock valued at $416,000 after purchasing an additional 5,353 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Hormel Foods by 19.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 253,163 shares of the company's stock valued at $7,938,000 after acquiring an additional 41,041 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Hormel Foods by 12.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 780,732 shares of the company's stock valued at $24,492,000 after purchasing an additional 86,685 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Hormel Foods in the fourth quarter valued at approximately $52,000. Finally, XTX Topco Ltd increased its position in shares of Hormel Foods by 251.1% during the 4th quarter. XTX Topco Ltd now owns 25,361 shares of the company's stock worth $796,000 after purchasing an additional 18,138 shares during the last quarter. Institutional investors own 40.99% of the company's stock.

Hormel Foods Price Performance

NYSE:HRL opened at $30.74 on Wednesday. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week 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. The firm's 50-day simple moving average is $29.69 and its 200 day simple moving average is $30.49. The firm has a market cap of $16.90 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.73 and a beta of 0.31.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be given 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 3.77%. Hormel Foods's payout ratio is 84.67%.

Insider Buying and Selling

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $30.40, for a total value of $136,800.00. Following the transaction, the director now directly owns 95,488 shares of the company's stock, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HRL has been the topic of several analyst reports. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Bank of America upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $29.00 to $35.00 in a report on Tuesday, April 15th. Finally, Stephens reissued an "equal weight" rating and set a $31.00 price target 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 assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $32.33.

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.

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