Teacher Retirement System of Texas Makes New $2.57 Million Investment in Hormel Foods Co. (NYSE:HRL)

Teacher Retirement System of Texas acquired a new stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 81,964 shares of the company's stock, valued at approximately $2,571,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HRL. Crews Bank & Trust bought a new position in Hormel Foods during the 4th quarter valued at $25,000. Brooklyn Investment Group bought a new position in Hormel Foods during the third quarter valued at about $32,000. Fairway Wealth LLC acquired a new position in Hormel Foods during the fourth quarter worth about $44,000. Capital Advisors Ltd. LLC raised its position in Hormel Foods by 86.9% in the fourth 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. Finally, Lindbrook Capital LLC lifted its holdings in Hormel Foods by 91.8% in 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 during the last quarter. Institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Up 0.1 %

NYSE HRL traded up $0.04 on Friday, hitting $30.36. 2,168,312 shares of the company were exchanged, compared to its average volume of 2,537,270. 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 twelve month low of $27.59 and a twelve month high of $36.86. The firm has a market capitalization of $16.70 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company's 50 day moving average price is $29.52 and its 200-day moving average price is $30.67.

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Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be given a $0.29 dividend. 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 presently 84.67%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Stephens restated an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.