Hormel Foods Co. (NYSE:HRL) Stock Holdings Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of Hormel Foods Co. (NYSE:HRL) by 6.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 849,726 shares of the company’s stock after purchasing an additional 49,279 shares during the period. Envestnet Asset Management Inc.’s holdings in Hormel Foods were worth $26,656,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HRL. Vanguard Group Inc. grew its holdings in shares of Hormel Foods by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company’s stock valued at $1,168,257,000 after acquiring an additional 268,328 shares in the last quarter. Geode Capital Management LLC boosted its position in Hormel Foods by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,461,100 shares of the company’s stock valued at $233,459,000 after purchasing an additional 98,442 shares during the last quarter. Norges Bank purchased a new position in Hormel Foods in the fourth quarter valued at about $102,598,000. Bank of New York Mellon Corp increased its position in Hormel Foods by 67.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after purchasing an additional 1,175,087 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Hormel Foods by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,898,796 shares of the company’s stock worth $59,565,000 after purchasing an additional 51,860 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of NYSE HRL opened at $30.26 on Friday. The business’s 50-day simple moving average is $29.47 and its 200-day simple moving average is $30.54. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86. 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 firm has a market cap of $16.64 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 2.73 and a beta of 0.31.

Hormel Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio is 84.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens restated 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.80.

Insider Transactions at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the business’s 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 transaction, the director now owns 95,488 shares of the company’s stock, valued at approximately $2,902,835.20. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is owned by corporate 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.