Virtu Financial LLC Invests $260,000 in Hormel Foods Co. (NYSE:HRL)

Virtu Financial LLC acquired a new stake in Hormel Foods Co. (NYSE:HRL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,277 shares of the company's stock, valued at approximately $260,000.

Several other large investors have also modified their holdings of the company. State Street Corp increased its position in Hormel Foods by 2.5% in the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company's stock valued at $794,659,000 after acquiring an additional 617,308 shares during the period. Geode Capital Management LLC increased its holdings in shares of Hormel Foods by 1.7% in 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 during the period. Stifel Financial Corp raised its stake in shares of Hormel Foods by 5.2% during the third quarter. Stifel Financial Corp now owns 3,267,186 shares of the company's stock worth $103,570,000 after purchasing an additional 162,577 shares during the last quarter. Bank of New York Mellon Corp grew 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 valued at $91,810,000 after buying an additional 1,175,087 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Hormel Foods by 56.0% in the third quarter. Holocene Advisors LP now owns 2,237,674 shares of the company's stock valued at $70,934,000 after acquiring an additional 802,816 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction that occurred 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 owns 95,488 shares in the company, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company's stock.

Hormel Foods Price Performance

Shares of NYSE HRL traded down $0.25 on Tuesday, hitting $30.69. The company's stock had a trading volume of 825,882 shares, compared to its average volume of 2,533,861. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock has a 50 day moving average of $29.54 and a 200-day moving average of $30.66. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21.

Hormel Foods Announces Dividend

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 issued a $0.29 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.78%. Hormel Foods's dividend payout ratio (DPR) is 84.67%.

Analyst Upgrades and Downgrades

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