Thrivent Financial for Lutherans Has $1.68 Million Holdings in Hormel Foods Co. (NYSE:HRL)

Thrivent Financial for Lutherans cut its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 31.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,033 shares of the company’s stock after selling 25,580 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Hormel Foods were worth $1,683,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 1,175,087 shares in the last quarter. Holocene Advisors LP raised its stake in 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 purchasing an additional 802,816 shares in the last quarter. State Street Corp lifted its position in Hormel Foods by 2.5% during the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after purchasing an additional 617,308 shares during the period. Van ECK Associates Corp acquired a new stake in Hormel Foods during the fourth quarter worth about $16,612,000. Finally, Vest Financial LLC increased its holdings in Hormel Foods by 17.0% in the 4th quarter. Vest Financial LLC now owns 1,825,660 shares of the company’s stock valued at $57,271,000 after buying an additional 264,813 shares during the period. 40.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on HRL. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.80.

Hormel Foods Trading Up 0.1 %

HRL opened at $30.36 on Friday. The stock has a market cap of $16.70 billion, a PE ratio of 20.80, 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. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86. The company has a fifty day moving average of $29.52 and a 200-day moving average of $30.67.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 3.82%. Hormel Foods’s payout ratio is currently 84.67%.

Hormel Foods 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.