Landscape Capital Management L.L.C. Purchases New Holdings in Hormel Foods Co. (NYSE:HRL)

Landscape Capital Management L.L.C. bought a new stake in Hormel Foods Co. (NYSE:HRL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 108,070 shares of the company's stock, valued at approximately $3,390,000.

Several other institutional investors and hedge funds have also bought and sold shares of HRL. D.A. Davidson & CO. increased its position in shares of Hormel Foods by 10.4% during the 4th quarter. D.A. Davidson & CO. now owns 9,905 shares of the company's stock worth $311,000 after purchasing an additional 934 shares during the last quarter. US Bancorp DE grew its stake in shares of Hormel Foods by 3.4% in the fourth quarter. US Bancorp DE now owns 626,360 shares of the company's stock valued at $19,649,000 after buying an additional 20,514 shares in the last quarter. Liberty One Investment Management LLC increased its holdings in Hormel Foods by 3.1% during the fourth quarter. Liberty One Investment Management LLC now owns 862,308 shares of the company's stock worth $27,051,000 after buying an additional 26,121 shares during the last quarter. DnB Asset Management AS increased its holdings in Hormel Foods by 14.7% during the fourth quarter. DnB Asset Management AS now owns 71,010 shares of the company's stock worth $2,228,000 after buying an additional 9,120 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Hormel Foods by 13.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 929,871 shares of the company's stock worth $29,170,000 after acquiring an additional 111,454 shares in the last quarter. Institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Performance

Shares of HRL traded down $0.39 during trading hours on Wednesday, hitting $28.93. The company had a trading volume of 958,994 shares, compared to its average volume of 2,545,996. The business has a fifty day moving average of $29.48 and a 200-day moving average of $30.58. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86.

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued a $0.29 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 4.01%. Hormel Foods's dividend payout ratio is currently 84.67%.

Insiders Place Their Bets

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the 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 transaction, the director now owns 95,488 shares in the company, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company's stock.

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 note on Wednesday, January 22nd. Stephens reissued 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 assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Hormel Foods presently has a consensus rating of "Hold" and a consensus target price 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.