Gardner Russo & Quinn LLC Has $1.58 Million Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Gardner Russo & Quinn LLC reduced its stake in Hormel Foods Co. (NYSE:HRL) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,345 shares of the company’s stock after selling 2,746 shares during the period. Gardner Russo & Quinn LLC’s holdings in Hormel Foods were worth $1,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HRL. Allstate Corp bought a new stake in shares of Hormel Foods during the 4th quarter worth approximately $285,000. Maridea Wealth Management LLC acquired a new stake in Hormel Foods during the 4th quarter worth approximately $451,000. DnB Asset Management AS grew its stake in shares of Hormel Foods by 14.7% in the fourth quarter. DnB Asset Management AS now owns 71,010 shares of the company’s stock worth $2,228,000 after purchasing an additional 9,120 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Hormel Foods by 6.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 108,539 shares of the company’s stock valued at $3,405,000 after buying an additional 6,097 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in Hormel Foods by 8.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 176,777 shares of the company’s stock worth $5,545,000 after purchasing an additional 14,503 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analyst Ratings Changes

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

Hormel Foods Stock Up 0.1 %

HRL opened at $30.36 on Friday. The firm has a market capitalization 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. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The company has a fifty day moving average price of $29.52 and a 200-day moving average price of $30.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Monday, April 14th. Hormel Foods’s payout ratio is currently 84.67%.

Hormel Foods 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.