Corient Private Wealth LLC Has $1.04 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Corient Private Wealth LLC lessened its holdings in Hormel Foods Co. (NYSE:HRL) by 34.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,015 shares of the company’s stock after selling 17,070 shares during the period. Corient Private Wealth LLC’s holdings in Hormel Foods were worth $1,036,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in shares of Hormel Foods in the fourth quarter worth approximately $25,000. Brooklyn Investment Group purchased a new stake in Hormel Foods in the 3rd quarter valued at $32,000. Fairway Wealth LLC purchased a new position in Hormel Foods during the 4th quarter worth $44,000. Capital Advisors Ltd. LLC boosted its holdings in Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after acquiring an additional 690 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Hormel Foods by 91.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after acquiring an additional 729 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 2.7 %

HRL opened at $29.59 on Thursday. The company’s 50-day moving average price is $29.50 and its two-hundred day moving average price is $30.70. 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 stock has a market cap of $16.27 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.73 and a beta of 0.21.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.92%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio (DPR) is 84.67%.

Analysts Set New Price Targets

Several research firms recently weighed in on HRL. Stephens restated an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. 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, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $31.80.

About Hormel Foods

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.