Vanguard Group Inc. Boosts Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Vanguard Group Inc. boosted its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,241,219 shares of the company's stock after buying an additional 268,328 shares during the quarter. Vanguard Group Inc. owned approximately 6.78% of Hormel Foods worth $1,168,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Crews Bank & Trust bought a new stake in shares of Hormel Foods in the 4th quarter valued at about $25,000. Brooklyn Investment Group purchased a new position in Hormel Foods during the 3rd quarter valued at $32,000. Fairway Wealth LLC bought a new position in Hormel Foods in the fourth quarter worth about $44,000. Capital Advisors Ltd. LLC boosted its position in shares of Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock valued at $47,000 after purchasing an additional 690 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of Hormel Foods by 91.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after buying an additional 729 shares during the period. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Stock Performance

NYSE:HRL traded down $0.19 on Tuesday, hitting $30.76. The stock had a trading volume of 2,517,172 shares, compared to its average volume of 2,537,633. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth 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 business's 50-day simple moving average is $29.54 and its two-hundred day simple moving average is $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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods's payout ratio is 84.67%.

Wall Street Analyst Weigh In

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

Insider Transactions at Hormel Foods

In other 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 transaction of $136,800.00. Following the sale, the director now directly owns 95,488 shares in the company, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

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.