LPL Financial LLC Purchases 25,177 Shares of Hormel Foods Co. (NYSE:HRL)

LPL Financial LLC lifted its position in Hormel Foods Co. (NYSE:HRL) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 303,483 shares of the company’s stock after purchasing an additional 25,177 shares during the quarter. LPL Financial LLC owned about 0.06% of Hormel Foods worth $9,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HRL. Crews Bank & Trust bought a new position in Hormel Foods in the 4th quarter worth about $25,000. Fairway Wealth LLC bought a new position in shares of Hormel Foods in the fourth quarter worth approximately $44,000. Capital Advisors Ltd. LLC raised its stake in Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after purchasing an additional 690 shares in the last quarter. Lindbrook Capital LLC raised its stake 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 purchasing an additional 729 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its position in Hormel Foods by 47.5% during the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock valued at $63,000 after purchasing an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Insider Activity

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $30.40, for a total value of $136,800.00. Following the transaction, the director now owns 95,488 shares in the company, valued at approximately $2,902,835.20. The trade was a 4.50 % decrease in their ownership of the stock. The transaction 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays raised shares of 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 set a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.80.

Hormel Foods Stock Down 2.2 %

Shares of NYSE:HRL opened at $30.76 on Friday. The stock has a market capitalization of $16.92 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31. The stock’s 50-day moving average price is $29.55 and its 200-day moving average price is $30.64. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86.

Hormel Foods Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 3.77%. 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.