Aviva PLC Grows Position in Hormel Foods Co. (NYSE:HRL)

Aviva PLC grew its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 58.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 313,619 shares of the company's stock after buying an additional 116,304 shares during the period. Aviva PLC owned 0.06% of Hormel Foods worth $9,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HRL. Norges Bank purchased a new position in shares of Hormel Foods in the 4th quarter valued at approximately $102,598,000. Bank of New York Mellon Corp increased its stake in Hormel Foods by 67.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company's stock valued at $91,810,000 after buying an additional 1,175,087 shares during the period. Van ECK Associates Corp purchased a new position in Hormel Foods during the 4th quarter worth $16,612,000. Trexquant Investment LP acquired a new stake in shares of Hormel Foods in the 4th quarter worth $10,684,000. Finally, Vanguard Group Inc. increased its stake in shares of Hormel Foods by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company's stock worth $1,168,257,000 after acquiring an additional 268,328 shares during the period. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Price Performance

Shares of NYSE:HRL traded up $0.32 during trading on Monday, hitting $30.34. 317,018 shares of the stock were exchanged, compared to its average volume of 2,564,104. The company has a market cap of $16.68 billion, a PE ratio of 20.78, a P/E/G ratio of 2.73 and a beta of 0.31. 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 company has a fifty day moving average price of $29.47 and a two-hundred day moving average price of $30.54. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86.

Remove Ads

Hormel Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's dividend payout ratio (DPR) is 84.67%.

Insider Transactions at Hormel Foods

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 transaction of $136,800.00. Following the completion of the transaction, the director now directly owns 95,488 shares in the company, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HRL shares. Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Stephens reiterated an "equal weight" rating and issued a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. 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.