Hormel Foods Co. (NYSE:HRL) Shares Purchased by LPL Financial LLC

LPL Financial LLC lifted its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 9.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,483 shares of the company's stock after purchasing an additional 25,177 shares during the period. LPL Financial LLC owned approximately 0.06% of Hormel Foods worth $9,520,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in shares of Hormel Foods during the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new stake in Hormel Foods during the 4th quarter worth about $44,000. Capital Advisors Ltd. LLC boosted its position in shares of Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after acquiring an additional 690 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Hormel Foods by 91.8% during the 4th 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, McIlrath & Eck LLC increased its holdings in shares of Hormel Foods by 47.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,981 shares of the company's stock valued at $63,000 after acquiring an additional 638 shares during the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hormel Foods

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of the sale, the director now owns 95,488 shares in the company, valued at $2,902,835.20. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

HRL has been the subject of several recent analyst reports. Stephens restated an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Hormel Foods presently has an average rating of "Hold" and a consensus price target of $31.80.

Hormel Foods Price Performance

Shares of NYSE HRL traded up $0.42 on Wednesday, hitting $29.74. The company's stock had a trading volume of 4,225,912 shares, compared to its average volume of 2,558,505. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock has a 50 day moving average of $29.46 and a 200-day moving average of $30.56. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, April 14th. Hormel Foods's dividend payout ratio is presently 84.67%.

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.