Hormel Foods Co. (NYSE:HRL) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its position in Hormel Foods Co. (NYSE:HRL) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,348,155 shares of the company’s stock after purchasing an additional 138,193 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.25% of Hormel Foods worth $42,292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenleaf Trust raised its position in shares of Hormel Foods by 4.4% in the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after buying an additional 336 shares during the last quarter. CFS Investment Advisory Services LLC raised its holdings in Hormel Foods by 2.8% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock valued at $422,000 after acquiring an additional 360 shares during the last quarter. Empower Advisory Group LLC lifted its stake in Hormel Foods by 4.0% in the 4th quarter. Empower Advisory Group LLC now owns 10,038 shares of the company’s stock worth $315,000 after purchasing an additional 389 shares in the last quarter. New Century Financial Group LLC lifted its stake in Hormel Foods by 6.2% in the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock worth $211,000 after purchasing an additional 392 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Hormel Foods by 4.8% during the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock worth $289,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

HRL stock opened at $30.36 on Friday. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The business has a fifty day moving average of $29.52 and a two-hundred day moving average of $30.68. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. 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. Investors of record on Monday, April 14th will be issued a $0.29 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a yield of 3.82%. Hormel Foods’s dividend payout ratio (DPR) is currently 84.67%.

Wall Street Analysts Forecast Growth

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

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.