Ameriprise Financial Inc. Lowers Holdings in Hormel Foods Co. (NYSE:HRL)

Ameriprise Financial Inc. lowered its position in shares of Hormel Foods Co. (NYSE:HRL) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,780 shares of the company’s stock after selling 1,549 shares during the quarter. Ameriprise Financial Inc.’s holdings in Hormel Foods were worth $4,510,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in HRL. Crews Bank & Trust acquired a new position in shares of Hormel Foods during the fourth quarter worth about $25,000. Fairway Wealth LLC acquired a new position in Hormel Foods during the 4th quarter worth approximately $44,000. Capital Advisors Ltd. LLC increased its position in Hormel Foods by 86.9% during the 4th 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 period. Lindbrook Capital LLC raised its stake in shares of Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after buying an additional 729 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Hormel Foods in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Up 0.1%

HRL opened at $29.47 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The company has a market cap of $16.21 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.73 and a beta of 0.34. Hormel Foods Co. has a one year low of $27.59 and a one year high of $35.00. The business’s fifty day moving average is $29.91 and its two-hundred day moving average is $30.26.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, July 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.94%. Hormel Foods’s payout ratio is 84.67%.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the company’s stock in a transaction dated 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 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 accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HRL. Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a report on Thursday. Bank of America upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $29.00 to $35.00 in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $32.33.

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.