Thrivent Financial for Lutherans Has $1.68 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Thrivent Financial for Lutherans lessened its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,033 shares of the company's stock after selling 25,580 shares during the period. Thrivent Financial for Lutherans' holdings in Hormel Foods were worth $1,683,000 as of its most recent SEC filing.

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

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Hormel Foods Stock Down 0.4 %

Hormel Foods stock traded down $0.11 during mid-day trading on Wednesday, hitting $30.63. 2,209,556 shares of the company's stock were exchanged, compared to its average volume of 2,529,345. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86. The stock has a 50 day moving average of $29.54 and a two-hundred day moving average of $30.65. 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 cap of $16.84 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.73 and a beta of 0.21.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's payout ratio is 84.67%.

Insider Activity at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $30.40, for a total value of $136,800.00. Following the transaction, the director now directly owns 95,488 shares in the company, 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 SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HRL shares. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays raised 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 given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $31.80.

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.