Hormel Foods Corp (NYSE:HRL) Position Increased by Moseley Investment Management Inc.
Moseley Investment Management Inc. raised its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the company’s stock after purchasing an additional 269 shares during the period. Moseley Investment Management Inc.’s holdings in Hormel Foods were worth $226,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in HRL. CSat Investment Advisory L.P. increased its stake in Hormel Foods by 153.8% during the second quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock valued at $59,000 after purchasing an additional 880 shares during the last quarter. National Pension Service bought a new stake in Hormel Foods during the second quarter valued at $88,000. Rational Advisors LLC bought a new stake in Hormel Foods during the third quarter valued at $118,000. Huntington National Bank increased its stake in Hormel Foods by 9.9% during the third quarter. Huntington National Bank now owns 2,967 shares of the company’s stock valued at $130,000 after purchasing an additional 267 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new stake in Hormel Foods during the third quarter valued at $142,000. Hedge funds and other institutional investors own 43.65% of the company’s stock.
HRL traded down $0.15 on Wednesday, reaching $45.30. The company had a trading volume of 1,558,899 shares, compared to its average volume of 2,179,000. The company has a fifty day moving average of $44.97 and a 200-day moving average of $42.64. The company has a market capitalization of $24.01 billion, a P/E ratio of 26.03, a PEG ratio of 4.22 and a beta of 0.07. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 0.04. Hormel Foods Corp has a one year low of $37.00 and a one year high of $45.90.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be issued a $0.2325 dividend. This represents a $0.93 dividend on an annualized basis and a yield of 2.05%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, January 10th. Hormel Foods’s dividend payout ratio is presently 53.45%.
In other Hormel Foods news, VP Lori J. Marco sold 11,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $45.08, for a total value of $495,880.00. Following the completion of the sale, the vice president now directly owns 36,178 shares of the company’s stock, valued at approximately $1,630,904.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elsa A. Murano sold 4,519 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.70, for a total transaction of $201,999.30. Following the sale, the director now directly owns 101,067 shares of the company’s stock, valued at $4,517,694.90. The disclosure for this sale can be found here. Insiders sold a total of 118,460 shares of company stock valued at $5,304,877 over the last three months. 1.15% of the stock is owned by corporate insiders.
Several analysts have weighed in on the stock. Stephens reiterated a “hold” rating and set a $43.00 target price (up previously from $37.00) on shares of Hormel Foods in a research note on Wednesday, November 27th. ValuEngine lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America started coverage on shares of Hormel Foods in a research report on Friday, October 25th. They set an “underperform” rating and a $40.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 price target for the company in a research report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Hormel Foods has a consensus rating of “Hold” and an average target price of $40.90.
Hormel Foods Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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