Bank of Montreal Can Sells 220,253 Shares of Hormel Foods Co. (NYSE:HRL)

Bank of Montreal Can trimmed its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 748,043 shares of the company's stock after selling 220,253 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of Hormel Foods worth $23,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in HRL. Crews Bank & Trust acquired a new stake in Hormel Foods in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC bought a new stake in Hormel Foods in the fourth quarter worth $44,000. Capital Advisors Ltd. LLC increased its position in Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after buying an additional 690 shares during the last quarter. Headlands Technologies LLC acquired a new position in Hormel Foods during the fourth quarter worth $48,000. Finally, Lindbrook Capital LLC raised its holdings in Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock valued at $48,000 after buying an additional 729 shares in the last quarter. Institutional investors own 40.99% of the company's stock.

Analysts Set New Price Targets

HRL has been the subject of several analyst reports. Bank of America upgraded Hormel Foods from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $29.00 to $35.00 in a report on Tuesday. Stephens reissued an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Hormel Foods presently has an average rating of "Hold" and an average price target of $32.33.

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Insider Transactions at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction 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 $2,902,835.20. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

Hormel Foods Price Performance

HRL traded down $0.18 during midday trading on Tuesday, hitting $30.38. The company had a trading volume of 1,941,800 shares, compared to its average volume of 2,576,226. 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's 50-day simple moving average is $29.50 and its 200-day simple moving average is $30.53. The company has a market capitalization of $16.70 billion, a PE ratio of 20.80, a P/E/G ratio of 2.73 and a beta of 0.31.

Hormel Foods Announces Dividend

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