Hormel Foods Co. (NYSE:HRL) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 699,941 shares of the company's stock after purchasing an additional 26,962 shares during the period. Hsbc Holdings PLC owned approximately 0.13% of Hormel Foods worth $21,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Greenleaf Trust grew its holdings in shares of Hormel Foods by 4.4% during the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company's stock valued at $252,000 after buying an additional 336 shares in the last quarter. CFS Investment Advisory Services LLC grew its stake in Hormel Foods by 2.8% during the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company's stock valued at $422,000 after acquiring an additional 360 shares in the last quarter. Empower Advisory Group LLC increased 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 valued at $315,000 after purchasing an additional 389 shares during the period. New Century Financial Group LLC lifted its position in shares of Hormel Foods by 6.2% in the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company's stock worth $211,000 after purchasing an additional 392 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Hormel Foods by 15.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,097 shares of the company's stock worth $97,000 after purchasing an additional 423 shares during the period. Institutional investors and hedge funds own 40.99% of the company's stock.

Insider Activity at Hormel Foods

In other news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction that occurred on 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 owns 95,488 shares of the company's stock, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Hormel Foods Trading Down 1.7 %

Shares of NYSE:HRL opened at $29.68 on Friday. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The firm has a fifty day moving average price of $29.80 and a 200 day moving average price of $30.47. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.32 billion, a PE ratio of 20.33, a P/E/G ratio of 2.73 and a beta of 0.31.

Hormel Foods Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Monday, April 14th. Hormel Foods's dividend payout ratio is 84.67%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Bank of America upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $29.00 to $35.00 in a report on Tuesday, April 15th. Finally, Stephens restated an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Hormel Foods presently has a consensus rating of "Hold" and an average price target of $32.33.

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.

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