19,632 Shares in Hormel Foods Co. (NYSE:HRL) Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC acquired a new stake in shares of Hormel Foods Co. (NYSE:HRL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,632 shares of the company’s stock, valued at approximately $616,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Crews Bank & Trust bought a new stake in shares of Hormel Foods in the fourth quarter worth $25,000. Fairway Wealth LLC bought a new stake in shares of Hormel Foods in the 4th quarter worth about $44,000. Capital Advisors Ltd. LLC lifted its position in shares of Hormel Foods by 86.9% during the fourth 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 last quarter. Headlands Technologies LLC acquired a new position in Hormel Foods in the fourth quarter worth about $48,000. Finally, Lindbrook Capital LLC increased its holdings in Hormel Foods by 91.8% in the fourth 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 last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Elsa A. Murano sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the sale, the director now directly owns 95,488 shares in the company, valued at $2,902,835.20. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

HRL has been the subject of several research reports. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. Finally, Bank of America upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $29.00 to $35.00 in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Hormel Foods has a consensus rating of “Hold” and a consensus target price of $32.33.

Hormel Foods Stock Down 1.7 %

Hormel Foods stock opened at $29.39 on Friday. The firm has a market capitalization of $16.16 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.73 and a beta of 0.31. The company has a 50-day simple moving average of $29.84 and a 200-day simple moving average of $30.44. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods Announces Dividend

The company 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 3.95%. Hormel Foods’s payout ratio is currently 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.