National Bank of Canada FI Sells 13,690 Shares of Hormel Foods Co. (NYSE:HRL)

National Bank of Canada FI trimmed its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 9.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 137,893 shares of the company's stock after selling 13,690 shares during the quarter. National Bank of Canada FI's holdings in Hormel Foods were worth $4,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HRL. Public Sector Pension Investment Board boosted its holdings in Hormel Foods by 17.9% in the third quarter. Public Sector Pension Investment Board now owns 11,206 shares of the company's stock worth $355,000 after purchasing an additional 1,700 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Hormel Foods by 3.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,690 shares of the company's stock valued at $434,000 after buying an additional 459 shares during the period. Benjamin Edwards Inc. purchased a new position in shares of Hormel Foods in the 3rd quarter worth $249,000. HighTower Advisors LLC grew its holdings in shares of Hormel Foods by 2.0% in the third quarter. HighTower Advisors LLC now owns 77,360 shares of the company's stock worth $2,454,000 after acquiring an additional 1,498 shares during the period. Finally, Janus Henderson Group PLC increased its position in Hormel Foods by 21.3% during the third quarter. Janus Henderson Group PLC now owns 43,224 shares of the company's stock valued at $1,370,000 after acquiring an additional 7,600 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Price Performance

NYSE:HRL traded up $0.75 during trading hours on Friday, hitting $30.26. 3,581,458 shares of the stock traded hands, compared to its average volume of 2,574,260. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The stock has a 50 day moving average price of $29.47 and a 200 day moving average price of $30.54. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, April 14th. Hormel Foods's dividend payout ratio (DPR) is 84.67%.

Insider Buying and Selling

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction that occurred 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 sale, the director now owns 95,488 shares of the company's stock, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of recent research reports. Stephens restated an "equal weight" rating and set a $31.00 price target 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 report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.80.

Hormel Foods Company 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.