Forum Financial Management LP Has $416,000 Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Forum Financial Management LP grew its position in Hormel Foods Co. (NYSE:HRL) by 67.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,260 shares of the company’s stock after purchasing an additional 5,353 shares during the period. Forum Financial Management LP’s holdings in Hormel Foods were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Toronto Dominion Bank increased its position in shares of Hormel Foods by 1.2% during the fourth quarter. Toronto Dominion Bank now owns 157,012 shares of the company’s stock worth $4,925,000 after acquiring an additional 1,812 shares in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Hormel Foods during the fourth quarter worth $695,000. Neo Ivy Capital Management acquired a new stake in shares of Hormel Foods during the fourth quarter worth $992,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Hormel Foods by 3.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,070,656 shares of the company’s stock worth $64,956,000 after acquiring an additional 73,297 shares during the period. Finally, Voloridge Investment Management LLC raised its holdings in shares of Hormel Foods by 7.2% during the fourth quarter. Voloridge Investment Management LLC now owns 1,371,972 shares of the company’s stock worth $43,039,000 after acquiring an additional 91,975 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HRL. Bank of America upgraded shares of Hormel Foods from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $29.00 to $35.00 in a report on Tuesday, April 15th. Stephens restated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.33.

Insider Activity at Hormel Foods

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

Hormel Foods Stock Up 0.1%

Hormel Foods stock opened at $29.47 on Tuesday. The company has a market cap of $16.21 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $35.00. The company has a fifty day simple moving average of $29.90 and a 200 day simple moving average of $30.26. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Monday, July 14th. Hormel Foods’s dividend payout ratio (DPR) is currently 84.67%.

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.