Quantbot Technologies LP Acquires 50,231 Shares of Hormel Foods Co. (NYSE:HRL)

Quantbot Technologies LP increased its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 1,109.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,760 shares of the company's stock after acquiring an additional 50,231 shares during the quarter. Quantbot Technologies LP's holdings in Hormel Foods were worth $1,718,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Hormel Foods by 2.5% during the third quarter. State Street Corp now owns 25,068,102 shares of the company's stock worth $794,659,000 after purchasing an additional 617,308 shares during the period. Geode Capital Management LLC lifted its position in Hormel Foods by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company's stock worth $232,646,000 after acquiring an additional 120,212 shares during the last quarter. Stifel Financial Corp grew its holdings in Hormel Foods by 5.2% in the 3rd quarter. Stifel Financial Corp now owns 3,267,186 shares of the company's stock valued at $103,570,000 after buying an additional 162,577 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company's stock valued at $91,810,000 after purchasing an additional 1,175,087 shares during the last quarter. Finally, Holocene Advisors LP grew its position in Hormel Foods by 56.0% in the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company's stock worth $70,934,000 after purchasing an additional 802,816 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have commented on HRL shares. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Stephens reiterated an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.80.

Hormel Foods Price Performance

Shares of NYSE:HRL traded up $0.04 during midday trading on Friday, reaching $30.36. The company's stock had a trading volume of 2,168,312 shares, compared to its average volume of 2,537,270. The business's fifty day simple moving average is $29.51 and its 200-day simple moving average is $30.69. The company has a market capitalization of $16.70 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86.

Hormel Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.82%. Hormel Foods's dividend payout ratio (DPR) is currently 84.67%.

About Hormel Foods

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.