Generali Asset Management SPA SGR Makes New Investment in Hormel Foods Co. (NYSE:HRL)

Generali Asset Management SPA SGR purchased a new position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,960 shares of the company's stock, valued at approximately $908,000.

Several other hedge funds also recently modified their holdings of the business. Cibc World Markets Corp raised its stake in Hormel Foods by 14.9% during the 4th quarter. Cibc World Markets Corp now owns 114,528 shares of the company's stock valued at $3,593,000 after purchasing an additional 14,886 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Hormel Foods by 3.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 51,442 shares of the company's stock valued at $1,614,000 after buying an additional 1,515 shares during the last quarter. GWN Securities Inc. bought a new stake in shares of Hormel Foods in the fourth quarter valued at about $944,000. Envestnet Portfolio Solutions Inc. grew its position in Hormel Foods by 24.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 114,995 shares of the company's stock worth $3,607,000 after buying an additional 22,839 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Hormel Foods by 4.4% during the fourth quarter. Natixis Advisors LLC now owns 69,538 shares of the company's stock valued at $2,181,000 after acquiring an additional 2,957 shares during the period. 40.99% of the stock is owned by institutional investors.

Hormel Foods Price Performance

NYSE:HRL traded down $0.45 on Tuesday, reaching $28.81. The stock had a trading volume of 3,311,420 shares, compared to its average volume of 2,424,236. 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 company has a market capitalization of $15.84 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86. The stock has a fifty day moving average price of $29.52 and a 200-day moving average price of $30.73.

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Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 4.03%. Hormel Foods's dividend payout ratio (DPR) is presently 84.67%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HRL shares. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Stephens reissued an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Hormel Foods presently has an average rating of "Hold" and an average target price of $31.80.

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.