Hormel Foods Co. (NYSE:HRL) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its position in shares of Hormel Foods Co. (NYSE:HRL) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in Hormel Foods by 17.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,206 shares of the company’s stock worth $355,000 after acquiring an additional 1,700 shares during the period. Captrust Financial Advisors boosted its position in Hormel Foods by 3.5% during the third quarter. Captrust Financial Advisors now owns 13,690 shares of the company’s stock worth $434,000 after purchasing an additional 459 shares during the period. Benjamin Edwards Inc. bought a new position in Hormel Foods in the 3rd quarter worth $249,000. HighTower Advisors LLC increased its stake in shares of Hormel Foods by 2.0% in the third quarter. HighTower Advisors LLC now owns 77,360 shares of the company’s stock worth $2,454,000 after purchasing an additional 1,498 shares during the period. Finally, Janus Henderson Group PLC increased its position in Hormel Foods by 21.3% in the 3rd quarter. Janus Henderson Group PLC now owns 43,224 shares of the company’s stock worth $1,370,000 after buying an additional 7,600 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

HRL opened at $30.03 on Tuesday. The stock has a market capitalization of $16.51 billion, a P/E ratio of 20.57, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The company’s 50 day simple moving average is $29.52 and its 200-day simple moving average is $30.60.

Hormel Foods Announces Dividend

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

Insider Buying and Selling

In related 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 sale, the director now directly owns 95,488 shares in the company, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Hormel Foods has an average rating of “Hold” and a consensus price target 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.