Quantbot Technologies LP Increases Stock Position in Hormel Foods Co. (NYSE:HRL)

Quantbot Technologies LP lifted its holdings in Hormel Foods Co. (NYSE:HRL) by 1,109.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,760 shares of the company’s stock after buying an additional 50,231 shares during the quarter. Quantbot Technologies LP’s holdings in Hormel Foods were worth $1,718,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HRL. State Street Corp grew its holdings in Hormel Foods by 2.5% in the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after purchasing an additional 617,308 shares during the period. Geode Capital Management LLC boosted its position in shares of Hormel Foods by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company’s stock worth $232,646,000 after purchasing an additional 120,212 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Hormel Foods by 5.2% in the 3rd quarter. Stifel Financial Corp now owns 3,267,186 shares of the company’s stock worth $103,570,000 after buying an additional 162,577 shares during the last quarter. Bank of New York Mellon Corp increased its position in Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock valued at $91,810,000 after buying an additional 1,175,087 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in Hormel Foods by 56.0% during the third quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock valued at $70,934,000 after buying an additional 802,816 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Hormel Foods Stock Performance

Shares of HRL opened at $29.29 on Tuesday. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The business’s fifty day simple moving average is $29.52 and its two-hundred day simple moving average is $30.73. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 2.73 and a beta of 0.21.

Hormel Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.96%. Hormel Foods’s dividend payout ratio (DPR) is presently 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.