Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 23.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 512,928 shares of the company's stock after buying an additional 98,035 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of Hormel Foods worth $16,091,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in Hormel Foods during the 4th quarter worth $25,000. Brooklyn Investment Group purchased a new stake in shares of Hormel Foods in the third quarter worth about $32,000. Fairway Wealth LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at about $44,000. Capital Advisors Ltd. LLC grew its stake in shares of Hormel Foods by 86.9% in 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 in the last quarter. Finally, Lindbrook Capital LLC raised its holdings 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 valued at $48,000 after buying an additional 729 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Hormel Foods
In other news, Director Elsa A. Murano sold 4,500 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $30.40, for a total value of $136,800.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Stephens restated an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $31.80.
Check Out Our Latest Stock Report on HRL
Hormel Foods Stock Down 0.8 %
Shares of HRL traded down $0.23 during trading on Wednesday, reaching $30.51. The company's stock had a trading volume of 365,239 shares, compared to its average volume of 3,033,892. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 2.73 and a beta of 0.21. 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 company has a fifty day moving average of $29.54 and a two-hundred day moving average of $30.65. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86.
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. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 3.80%. Hormel Foods's dividend payout ratio is presently 84.67%.
About Hormel Foods
(
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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