Hormel Foods Co. (NYSE:HRL) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its position in Hormel Foods Co. (NYSE:HRL) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,371,972 shares of the company’s stock after buying an additional 91,975 shares during the quarter. Voloridge Investment Management LLC’s holdings in Hormel Foods were worth $43,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC lifted its stake in shares of Hormel Foods by 599.1% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 368,624 shares of the company’s stock worth $11,564,000 after acquiring an additional 315,897 shares in the last quarter. Woodline Partners LP purchased a new stake in Hormel Foods during the 4th quarter worth approximately $548,000. iSAM Funds UK Ltd acquired a new position in shares of Hormel Foods in the 4th quarter valued at approximately $586,000. WBI Investments LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at approximately $2,659,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Hormel Foods by 496.3% during the 4th quarter. Two Sigma Advisers LP now owns 2,185,600 shares of the company’s stock valued at $68,562,000 after buying an additional 1,819,100 shares during the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Price Performance

HRL opened at $30.15 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $29.93 and its 200 day moving average price is $30.29. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.80. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34.

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, July 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, July 14th. Hormel Foods’s payout ratio is 84.67%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Bank of America upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and upped their target price for the company from $29.00 to $35.00 in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued 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.com, Hormel Foods has a consensus rating of “Hold” and an average target price of $32.33.

Insider Transactions at Hormel Foods

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

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.