Envestnet Asset Management Inc. Purchases 49,279 Shares of Hormel Foods Co. (NYSE:HRL)

Envestnet Asset Management Inc. boosted its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 849,726 shares of the company's stock after buying an additional 49,279 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Hormel Foods worth $26,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Hormel Foods during the fourth quarter valued at about $25,000. Fairway Wealth LLC bought a new position in Hormel Foods during the 4th quarter valued at approximately $44,000. Capital Advisors Ltd. LLC raised its position in Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock valued at $47,000 after purchasing an additional 690 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Hormel Foods by 91.8% in 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. Finally, Headlands Technologies LLC bought a new stake in shares of Hormel Foods in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Down 0.6 %

Shares of Hormel Foods stock traded down $0.18 during trading on Tuesday, hitting $30.38. The company's stock had a trading volume of 1,941,800 shares, compared to its average volume of 2,576,692. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week 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 company has a fifty day simple moving average of $29.52 and a two-hundred day simple moving average of $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.

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Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. 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 payout ratio is 84.67%.

Analyst Ratings Changes

A number of brokerages recently commented on HRL. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, Bank of America upgraded shares of Hormel Foods from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $29.00 to $35.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three 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.com, Hormel Foods presently has a consensus rating of "Hold" and a consensus target price of $32.33.

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 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 transaction, the director now owns 95,488 shares in the company, valued at approximately $2,902,835.20. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company's stock.

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.