Huntington National Bank Has $155,000 Position in Hormel Foods Co. (NYSE:HRL)

Huntington National Bank lifted its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 19.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,942 shares of the company’s stock after buying an additional 793 shares during the period. Huntington National Bank’s holdings in Hormel Foods were worth $155,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HRL. D.A. Davidson & CO. grew its stake in Hormel Foods by 10.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock valued at $311,000 after purchasing an additional 934 shares in the last quarter. US Bancorp DE increased its holdings in Hormel Foods by 3.4% during the fourth quarter. US Bancorp DE now owns 626,360 shares of the company’s stock worth $19,649,000 after buying an additional 20,514 shares during the last quarter. Liberty One Investment Management LLC raised its position in Hormel Foods by 3.1% during the fourth quarter. Liberty One Investment Management LLC now owns 862,308 shares of the company’s stock worth $27,051,000 after acquiring an additional 26,121 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Hormel Foods by 13.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 929,871 shares of the company’s stock valued at $29,170,000 after acquiring an additional 111,454 shares during the last quarter. Finally, DnB Asset Management AS grew its position in shares of Hormel Foods by 14.7% in the 4th quarter. DnB Asset Management AS now owns 71,010 shares of the company’s stock valued at $2,228,000 after acquiring an additional 9,120 shares during the period. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $30.76 on Friday. The firm has a market cap of $16.92 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 2.73 and a beta of 0.31. The business’s 50 day moving average is $29.55 and its 200-day moving average is $30.63. 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 Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Hormel Foods Dividend Announcement

The company also recently announced 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s dividend payout ratio is currently 84.67%.

Insider Activity

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated 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 sale, the director now owns 95,488 shares in the company, valued at $2,902,835.20. The trade was a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on HRL. Stephens reiterated an “equal weight” rating and set a $31.00 price target 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 research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.80.

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.