Hormel Foods Co. (NYSE:HRL) Stake Trimmed by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH lowered its stake in Hormel Foods Co. (NYSE:HRL) by 91.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,202 shares of the company’s stock after selling 13,207 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Hormel Foods were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust boosted its position in Hormel Foods by 4.4% during the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock worth $252,000 after acquiring an additional 336 shares during the period. CFS Investment Advisory Services LLC boosted its position in Hormel Foods by 2.8% during the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock worth $422,000 after acquiring an additional 360 shares during the period. Empower Advisory Group LLC boosted its position in Hormel Foods by 4.0% during the 4th quarter. Empower Advisory Group LLC now owns 10,038 shares of the company’s stock worth $315,000 after acquiring an additional 389 shares during the period. New Century Financial Group LLC boosted its position in Hormel Foods by 6.2% during the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock worth $211,000 after acquiring an additional 392 shares during the period. Finally, Y.D. More Investments Ltd boosted its position in Hormel Foods by 15.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,097 shares of the company’s stock worth $97,000 after acquiring an additional 423 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Analyst Ratings Changes

HRL has been the subject of a number of research reports. Bank of America upgraded Hormel Foods from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $29.00 to $35.00 in a research report on Tuesday, April 15th. Stephens restated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average price target of $32.33.

Hormel Foods Stock Up 1.2%

Shares of Hormel Foods stock opened at $30.53 on Monday. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 2.73 and a beta of 0.34. 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 Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The stock has a 50-day simple moving average of $29.90 and a 200-day simple moving average of $30.30.

Hormel Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 14th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, April 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.80%. Hormel Foods’s dividend payout ratio is 84.67%.

Insider Activity

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,902,835.20. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

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.