Wellington Management Group LLP Purchases New Shares in Hormel Foods Co. (NYSE:HRL)

Wellington Management Group LLP purchased 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 and Exchange Commission (SEC). The fund purchased 21,016 shares of the company's stock, valued at approximately $659,000.

Several other large investors have also recently bought and sold shares of HRL. Crews Bank & Trust purchased a new stake in shares of Hormel Foods during the fourth quarter worth $25,000. Fairway Wealth LLC bought a new stake in shares of Hormel Foods in the 4th quarter valued at approximately $44,000. Capital Advisors Ltd. LLC increased its holdings 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 buying an additional 690 shares during the last quarter. Lindbrook Capital LLC raised its position in Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock valued at $48,000 after acquiring an additional 729 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in Hormel Foods by 47.5% in the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company's stock valued at $63,000 after acquiring an additional 638 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HRL. Bank of America upgraded shares of Hormel Foods from an "underperform" rating to a "neutral" rating and raised their price target for the company from $29.00 to $35.00 in a report on Tuesday. 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. Finally, Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $32.33.

Insider Transactions at Hormel Foods

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company's stock.

Hormel Foods Stock Performance

Shares of HRL traded up $0.39 during mid-day trading on Friday, hitting $30.57. The company's stock had a trading volume of 2,859,028 shares, compared to its average volume of 2,582,987. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The stock's 50-day moving average is $29.61 and its two-hundred day moving average is $30.50. The firm has a market capitalization of $16.81 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 3.79%. Hormel Foods's dividend payout ratio is 84.67%.

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.