AssuredPartners Investment Advisors LLC Acquires Shares of 14,013 Hormel Foods Co. (NYSE:HRL)

AssuredPartners Investment Advisors LLC bought a new position in shares of Hormel Foods Co. (NYSE:HRL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 14,013 shares of the company’s stock, valued at approximately $440,000.

A number of other institutional investors have also recently modified their holdings of the business. Greenleaf Trust increased its holdings in shares of 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 buying an additional 336 shares during the last quarter. CFS Investment Advisory Services LLC grew its position in Hormel Foods by 2.8% in the fourth 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 increased its stake in Hormel Foods by 4.0% during the fourth 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 last quarter. New Century Financial Group LLC raised its position in Hormel Foods by 6.2% in the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock valued at $211,000 after purchasing an additional 392 shares during the period. Finally, MML Investors Services LLC lifted its stake in shares of Hormel Foods by 4.8% in the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock valued at $289,000 after purchasing an additional 416 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stephens restated an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Stock Performance

NYSE HRL opened at $30.32 on Friday. 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 has a market cap of $16.67 billion, a P/E ratio of 20.76, a P/E/G ratio of 2.73 and a beta of 0.21. The stock has a 50-day moving average of $29.51 and a two-hundred day moving average of $30.69. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Hormel Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be paid a $0.29 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.83%. Hormel Foods’s dividend payout ratio (DPR) is 84.67%.

About Hormel Foods

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.