Hormel Foods Co. (NYSE:HRL) Shares Bought by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC raised its holdings in Hormel Foods Co. (NYSE:HRL) by 8.6% in the 4th quarter, HoldingsChannel reports. The fund owned 7,492 shares of the company’s stock after acquiring an additional 595 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Hormel Foods were worth $235,000 at the end of the most recent quarter.

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

Hormel Foods Trading Up 1.2%

HRL stock opened at $30.53 on Friday. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.73 and a beta of 0.34. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $29.90 and a 200-day simple moving average of $30.30. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.80%. Hormel Foods’s dividend payout ratio (DPR) is 84.67%.

Insider Buying and Selling

In related news, Director Elsa A. Murano sold 4,500 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $30.40, for a total transaction of $136,800.00. Following the completion of the sale, the director now directly owns 95,488 shares of the company’s stock, valued at approximately $2,902,835.20. This represents a 4.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens restated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Bank of America upgraded Hormel Foods from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $29.00 to $35.00 in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.33.

Hormel Foods Company 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.