Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Hormel Foods Co. (NYSE:HRL)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Hormel Foods Co. (NYSE:HRL) by 19.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 688,115 shares of the company’s stock after buying an additional 113,823 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.13% of Hormel Foods worth $21,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of HRL. Cerity Partners LLC grew its holdings in shares of Hormel Foods by 80.2% during the 3rd quarter. Cerity Partners LLC now owns 69,390 shares of the company’s stock worth $2,200,000 after acquiring an additional 30,879 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Hormel Foods in the third quarter worth $335,000. Quantbot Technologies LP purchased a new stake in Hormel Foods in the third quarter worth $144,000. Brooklyn Investment Group purchased a new position in Hormel Foods during the third quarter valued at $32,000. Finally, Townsquare Capital LLC bought a new stake in shares of Hormel Foods during the 3rd quarter valued at $290,000. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Up 0.1 %

NYSE:HRL opened at $30.36 on Monday. The firm has a 50-day simple moving average of $29.52 and a two-hundred day simple moving average of $30.67. The firm has a market cap of $16.70 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be given a $0.29 dividend. The ex-dividend date of this dividend 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 presently 84.67%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.80.

About Hormel Foods

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.