National Bank of Canada FI Has $4.33 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

National Bank of Canada FI trimmed its position in Hormel Foods Co. (NYSE:HRL) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 137,893 shares of the company’s stock after selling 13,690 shares during the quarter. National Bank of Canada FI’s holdings in Hormel Foods were worth $4,326,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HRL. Franklin Resources Inc. boosted its position in Hormel Foods by 8.3% during the fourth quarter. Franklin Resources Inc. now owns 54,733 shares of the company’s stock valued at $1,717,000 after purchasing an additional 4,207 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Hormel Foods by 1.1% in the 4th quarter. Alliancebernstein L.P. now owns 365,801 shares of the company’s stock valued at $11,475,000 after buying an additional 3,969 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Hormel Foods in the fourth quarter valued at about $659,000. CIBC Private Wealth Group LLC increased its holdings in shares of Hormel Foods by 5.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 10,500 shares of the company’s stock worth $320,000 after purchasing an additional 561 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Hormel Foods by 0.4% in the 4th quarter. California Public Employees Retirement System now owns 1,326,642 shares of the company’s stock valued at $41,617,000 after acquiring an additional 5,586 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insider Transactions at Hormel Foods

In related 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 transaction, the director now directly owns 95,488 shares of the company’s stock, valued at approximately $2,902,835.20. This represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Hormel Foods Trading Down 2.3 %

HRL opened at $30.03 on Tuesday. The stock has a market cap of $16.51 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31. 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 $30.60.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s dividend payout ratio is 84.67%.

Analyst Upgrades and Downgrades

HRL has been the topic of several analyst reports. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.80.

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.