Hormel Foods Co. (NYSE:HRL) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its position in Hormel Foods Co. (NYSE:HRL) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,843,207 shares of the company’s stock after acquiring an additional 533,657 shares during the quarter. Invesco Ltd.’s holdings in Hormel Foods were worth $246,041,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of Hormel Foods in the fourth quarter valued at about $25,000. Fairway Wealth LLC acquired a new stake in Hormel Foods in the fourth quarter valued at about $44,000. Capital Advisors Ltd. LLC lifted its position 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 during the period. Headlands Technologies LLC purchased a new stake in Hormel Foods in the 4th quarter valued at approximately $48,000. Finally, Lindbrook Capital LLC increased its position in Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after purchasing an additional 729 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on HRL. Barclays raised 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.80.

Hormel Foods Stock Down 0.6 %

HRL opened at $29.53 on Friday. 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 company has a market cap of $16.24 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The business’s fifty day moving average is $29.46 and its two-hundred day moving average is $30.55.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 dividend yield of 3.93%. Hormel Foods’s dividend payout ratio is presently 84.67%.

Insider Buying and Selling at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction of $136,800.00. Following the completion of the sale, the director now owns 95,488 shares in the company, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

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.