Brandywine Global Investment Management LLC Sells 5,900 Shares of Hormel Foods Co. (NYSE:HRL)

Brandywine Global Investment Management LLC reduced its stake in Hormel Foods Co. (NYSE:HRL) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,700 shares of the company’s stock after selling 5,900 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Hormel Foods were worth $2,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Hormel Foods during the 4th quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in Hormel Foods in the 4th quarter valued at about $44,000. Capital Advisors Ltd. LLC boosted 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 worth $47,000 after purchasing an additional 690 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Hormel Foods by 91.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after acquiring an additional 729 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of Hormel Foods by 47.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock valued at $63,000 after buying an additional 638 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $30.40, for a total value of $136,800.00. Following the transaction, the director now directly owns 95,488 shares in the company, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stephens reaffirmed 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 research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average price target of $31.80.

Hormel Foods Price Performance

Shares of HRL opened at $30.63 on Thursday. The firm has a fifty day simple moving average of $29.54 and a two-hundred day simple moving average of $30.65. The firm has a market cap of $16.84 billion, a PE ratio of 20.98, a P/E/G ratio of 2.73 and a beta of 0.21. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Hormel Foods Announces Dividend

The company 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 dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s dividend payout ratio (DPR) is presently 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.