Hormel Foods Co. (NYSE:HRL) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,725 shares of the company's stock after selling 155,206 shares during the period. Prudential Financial Inc.'s holdings in Hormel Foods were worth $5,073,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HRL. Crews Bank & Trust acquired a new position in Hormel Foods in the fourth quarter valued at $25,000. Fairway Wealth LLC acquired a new position in Hormel Foods in the fourth quarter valued at $44,000. Capital Advisors Ltd. LLC grew its holdings 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 purchasing an additional 690 shares during the period. Lindbrook Capital LLC lifted 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 acquiring an additional 729 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its position in Hormel Foods by 47.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,981 shares of the company's stock worth $63,000 after purchasing an additional 638 shares during the period. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Performance

NYSE:HRL traded down $0.11 during mid-day trading on Wednesday, hitting $30.63. The stock had a trading volume of 2,209,556 shares, compared to its average volume of 2,529,344. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86. 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 stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.73 and a beta of 0.21. The company has a 50 day simple moving average of $29.54 and a 200-day simple moving average of $30.65.

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Hormel Foods Dividend Announcement

The firm 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 dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.79%. Hormel Foods's dividend payout ratio is presently 84.67%.

Insider Buying and Selling

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were 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 of the company's stock, valued at approximately $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. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Stephens reissued an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given 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.com, Hormel Foods currently has an average rating of "Hold" and an average price target of $31.80.

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.