Vanguard Group Inc. Has $1.17 Billion Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Vanguard Group Inc. lifted its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 0.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 37,241,219 shares of the company’s stock after acquiring an additional 268,328 shares during the period. Vanguard Group Inc. owned about 0.07% of Hormel Foods worth $1,168,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HRL. Crews Bank & Trust acquired a new position in Hormel Foods during the fourth quarter worth about $25,000. Brooklyn Investment Group bought a new position in Hormel Foods in the 3rd quarter valued at approximately $32,000. Fairway Wealth LLC bought a new position in Hormel Foods in the 4th quarter valued at approximately $44,000. Capital Advisors Ltd. LLC boosted its position in Hormel Foods by 86.9% in the fourth 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 in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after buying an additional 729 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Hormel Foods Stock Up 2.5 %

Shares of NYSE:HRL opened at $30.32 on Friday. The firm 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. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The business has a fifty day simple moving average of $29.51 and a 200 day simple moving average of $30.69. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36.

Hormel Foods Announces Dividend

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

Hormel Foods 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.