Sei Investments Co. Purchases 37,006 Shares of Hormel Foods Co. (NYSE:HRL)

Sei Investments Co. boosted its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,595 shares of the company's stock after acquiring an additional 37,006 shares during the period. Sei Investments Co. owned 0.05% of Hormel Foods worth $9,147,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Hormel Foods in the 4th quarter valued at about $25,000. Brooklyn Investment Group acquired a new position in Hormel Foods in the third quarter valued at approximately $32,000. Fairway Wealth LLC acquired a new position in Hormel Foods in the fourth quarter valued at approximately $44,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after buying an additional 690 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after buying an additional 729 shares during the period. Institutional investors own 40.99% of the company's stock.

Wall Street Analysts Forecast Growth

HRL has been the topic of several research analyst reports. Stephens reissued an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $31.80.

Insider Activity at Hormel Foods

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

Hormel Foods Stock Up 2.6 %

HRL traded up $0.79 during trading on Thursday, hitting $31.41. 3,775,785 shares of the company's stock were exchanged, compared to its average volume of 2,531,386. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The stock has a market cap of $17.27 billion, a P/E ratio of 21.51, a PEG ratio of 2.73 and a beta of 0.21. The business's 50 day moving average is $29.55 and its two-hundred day moving average is $30.66. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36.

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be issued a $0.29 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.69%. Hormel Foods's dividend payout ratio is presently 84.67%.

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.