Nomura Asset Management Co. Ltd. Has $42.29 Million Stake in Hormel Foods Co. (NYSE:HRL)

Nomura Asset Management Co. Ltd. boosted its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,348,155 shares of the company's stock after purchasing an additional 138,193 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.25% of Hormel Foods worth $42,292,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Hormel Foods by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company's stock valued at $58,548,000 after buying an additional 66,261 shares during the last quarter. Cerity Partners LLC boosted its stake in Hormel Foods by 80.2% in the third quarter. Cerity Partners LLC now owns 69,390 shares of the company's stock valued at $2,200,000 after acquiring an additional 30,879 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Hormel Foods by 13.1% during the third quarter. Daiwa Securities Group Inc. now owns 50,759 shares of the company's stock valued at $1,609,000 after purchasing an additional 5,875 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Hormel Foods during the 3rd quarter worth approximately $335,000. Finally, Bank of Montreal Can lifted its holdings in shares of Hormel Foods by 2.7% in the 3rd quarter. Bank of Montreal Can now owns 968,296 shares of the company's stock worth $30,714,000 after purchasing an additional 25,102 shares during the last quarter. Institutional investors own 40.99% of the company's stock.

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Insider Transactions at Hormel Foods

In other Hormel Foods 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 transaction of $136,800.00. Following the transaction, the director now directly owns 95,488 shares in the company, valued at approximately $2,902,835.20. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Hormel Foods Price Performance

Shares of NYSE:HRL traded up $0.59 during trading on Monday, reaching $30.95. The company had a trading volume of 3,340,667 shares, compared to its average volume of 2,540,471. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month 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 has a market capitalization of $17.02 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The firm's fifty day moving average is $29.52 and its 200 day moving average is $30.67.

Hormel Foods Announces Dividend

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 given a dividend of $0.29 per share. The ex-dividend date is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.75%. Hormel Foods's dividend payout ratio (DPR) is presently 84.67%.

Analyst Ratings Changes

Several equities research analysts have weighed in on HRL shares. Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a research 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 analyst has rated the stock with a sell rating, two have assigned 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, the stock has an average rating of "Hold" and a consensus price target of $31.80.

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.