Distillate Capital Partners LLC Buys New Holdings in Hormel Foods Co. (NYSE:HRL)

Distillate Capital Partners LLC purchased a new position in shares of Hormel Foods Co. (NYSE:HRL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 513,858 shares of the company’s stock, valued at approximately $16,120,000. Distillate Capital Partners LLC owned about 0.09% of Hormel Foods at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crews Bank & Trust purchased a new position in shares of Hormel Foods during the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new stake in Hormel Foods during the 4th quarter worth about $44,000. Capital Advisors Ltd. LLC raised its stake in shares of Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after buying an additional 690 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Hormel Foods by 91.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after buying an additional 729 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth about $48,000. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods 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 in the company, valued at $2,902,835.20. This trade 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 this link. 0.72% of the stock is owned by insiders.

Hormel Foods Stock Up 2.5 %

Shares of HRL opened at $30.26 on Friday. The firm has a market cap of $16.64 billion, a P/E ratio of 20.73, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The stock’s 50 day moving average is $29.47 and its two-hundred day moving average is $30.54. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 dividend on an annualized basis and a yield of 3.83%. Hormel Foods’s dividend payout ratio is currently 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.