Hormel Foods Co. (NYSE:HRL) Stock Position Raised by Sei Investments Co.

Sei Investments Co. grew its holdings in Hormel Foods Co. (NYSE:HRL) by 14.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 291,595 shares of the company’s stock after purchasing an additional 37,006 shares during the period. Sei Investments Co.’s holdings in Hormel Foods were worth $9,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. lifted its stake in Hormel Foods by 10.4% in the 4th quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock worth $311,000 after acquiring an additional 934 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Hormel Foods by 3.4% during the fourth quarter. US Bancorp DE now owns 626,360 shares of the company’s stock worth $19,649,000 after purchasing an additional 20,514 shares during the period. Liberty One Investment Management LLC increased its stake in Hormel Foods by 3.1% in the 4th quarter. Liberty One Investment Management LLC now owns 862,308 shares of the company’s stock valued at $27,051,000 after buying an additional 26,121 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Hormel Foods by 13.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 929,871 shares of the company’s stock worth $29,170,000 after buying an additional 111,454 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in shares of Hormel Foods by 54.4% during the 4th quarter. MCF Advisors LLC now owns 27,500 shares of the company’s stock valued at $863,000 after buying an additional 9,684 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HRL. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens restated an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.80.

Hormel Foods Stock Up 0.1 %

HRL opened at $30.36 on Monday. The firm has a market cap of $16.70 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The business has a 50 day moving average price of $29.52 and a 200 day moving average price of $30.67. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 dividend yield of 3.82%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio is currently 84.67%.

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.