Dynamic Technology Lab Private Ltd Acquires 22,911 Shares of Hormel Foods Co. (NYSE:HRL)

Dynamic Technology Lab Private Ltd boosted its stake in Hormel Foods Co. (NYSE:HRL) by 217.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,469 shares of the company’s stock after purchasing an additional 22,911 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Hormel Foods were worth $1,050,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Hormel Foods by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company’s stock valued at $1,168,257,000 after buying an additional 268,328 shares during the period. State Street Corp boosted its holdings in Hormel Foods by 2.5% in the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock valued at $794,659,000 after acquiring an additional 617,308 shares during the last quarter. Geode Capital Management LLC increased its position in Hormel Foods by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,461,100 shares of the company’s stock valued at $233,459,000 after purchasing an additional 98,442 shares during the period. Norges Bank bought a new position in Hormel Foods during the 4th quarter worth approximately $102,598,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Hormel Foods by 67.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after purchasing an additional 1,175,087 shares during the period. 40.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HRL has been the subject of several recent analyst reports. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and an average target price of $31.80.

Insider Transactions at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the company’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 transaction of $136,800.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $30.76 on Friday. 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 Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The firm has a 50 day moving average of $29.55 and a 200-day moving average of $30.63. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. Hormel Foods’s dividend 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.