52,128 Shares in Hormel Foods Co. (NYSE:HRL) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in shares of Hormel Foods Co. (NYSE:HRL) during the fourth quarter, HoldingsChannel reports. The fund purchased 52,128 shares of the company’s stock, valued at approximately $1,635,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. grew its position in shares of Hormel Foods by 10.4% during the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock worth $311,000 after purchasing an additional 934 shares in the last quarter. US Bancorp DE grew its holdings in Hormel Foods by 3.4% during the 4th quarter. US Bancorp DE now owns 626,360 shares of the company’s stock valued at $19,649,000 after buying an additional 20,514 shares in the last quarter. Liberty One Investment Management LLC raised its position in shares of Hormel Foods by 3.1% during the fourth 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 last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Hormel Foods by 13.6% in the fourth 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 position in shares of Hormel Foods by 54.4% during the fourth quarter. MCF Advisors LLC now owns 27,500 shares of the company’s stock worth $863,000 after acquiring an additional 9,684 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Stephens reiterated an “equal weight” rating and issued 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 equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Trading Down 0.6 %

Shares of HRL opened at $30.76 on Wednesday. The stock has a market capitalization of $16.91 billion, a PE ratio of 21.07, a P/E/G ratio of 2.73 and a beta of 0.21. The company’s fifty day moving average is $29.54 and its 200 day moving average is $30.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86.

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio is 84.67%.

Insider Activity at Hormel Foods

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction of $136,800.00. Following the sale, the director now directly owns 95,488 shares in the company, valued at $2,902,835.20. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.72% of the stock is owned by insiders.

Hormel Foods Company 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.