By otakuyassine3@gmail.com 
Federated Hermes Inc. raised its holdings in shares of Hormel Foods Co. (NYSE:HRL – Free Report) by 2,319.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,357 shares of the company’s stock after purchasing an additional 47,317 shares during the quarter. Federated Hermes Inc.’s holdings in Hormel Foods were worth $1,548,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of HRL. Crews Bank & Trust bought a new stake in shares of Hormel Foods in the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new stake in shares of Hormel Foods in the 4th quarter valued at about $44,000. Capital Advisors Ltd. LLC lifted 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 worth $47,000 after purchasing an additional 690 shares during the last quarter. Headlands Technologies LLC acquired a new position in Hormel Foods in the fourth quarter worth about $48,000. Finally, Lindbrook Capital LLC increased its holdings in Hormel Foods by 91.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after buying an additional 729 shares during the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on HRL. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. One 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 stock. According to data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average target price of $31.80.
View Our Latest Stock Analysis on Hormel Foods
Insiders Place Their Bets
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 stock was sold at an average price of $30.40, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by insiders.
Hormel Foods Stock Performance
HRL stock opened at $30.55 on Tuesday. The stock’s fifty day moving average is $29.50 and its two-hundred day moving average is $30.53. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 20.92, a PEG 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 Co. has a 1 year low of $27.59 and a 1 year high of $36.86.
Hormel Foods Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Monday, April 14th. Hormel Foods’s 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.
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