Shares of Hormel Foods Co. (NYSE:HRL - Get Free Report) traded up 2.7% during trading on Monday . The company traded as high as $31.06 and last traded at $31.19. 289,321 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,528,685 shares. The stock had previously closed at $30.36.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on HRL. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Stephens restated an "equal weight" rating and set a $31.00 price target 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 issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $31.80.
Get Our Latest Stock Analysis on Hormel Foods
Hormel Foods Stock Performance
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 business has a fifty day moving average of $29.55 and a 200-day moving average of $30.66. The company has a market cap of $16.92 billion, a PE ratio of 21.07, a P/E/G ratio of 2.73 and a beta of 0.31.
Hormel Foods Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's dividend payout ratio (DPR) is currently 84.67%.
Insider Activity
In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the company's 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 transaction, the director now owns 95,488 shares in the company, valued at approximately $2,902,835.20. This represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company's stock.
Hedge Funds Weigh In On Hormel Foods
A number of institutional investors have recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Hormel Foods in the 4th quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in shares of Hormel Foods in the 4th quarter worth approximately $44,000. Capital Advisors Ltd. LLC raised its stake in Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock valued at $47,000 after buying an additional 690 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Hormel Foods by 91.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after acquiring an additional 729 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth $48,000. Institutional investors own 40.99% of the company's stock.
About Hormel Foods
(
Get Free Report)
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.
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