Orion Portfolio Solutions LLC Increases Stock Position in Hormel Foods Co. (NYSE:HRL)

Orion Portfolio Solutions LLC grew its position in shares of Hormel Foods Co. (NYSE:HRL) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 108,539 shares of the company’s stock after purchasing an additional 6,097 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Hormel Foods were worth $3,405,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in HRL. Vanguard Group Inc. increased its position in Hormel Foods by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,241,219 shares of the company’s stock worth $1,168,257,000 after buying an additional 268,328 shares during the period. State Street Corp grew its position in shares of Hormel Foods by 2.5% during the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after acquiring an additional 617,308 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hormel Foods by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company’s stock valued at $232,646,000 after acquiring an additional 120,212 shares during the period. Norges Bank acquired a new stake in Hormel Foods during the 4th quarter worth $102,598,000. Finally, Stifel Financial Corp grew its position in Hormel Foods by 5.2% during the 3rd quarter. Stifel Financial Corp now owns 3,267,186 shares of the company’s stock worth $103,570,000 after purchasing an additional 162,577 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Trading Up 0.1 %

Shares of Hormel Foods stock opened at $30.36 on Monday. The firm 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. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The company’s 50-day simple moving average is $29.52 and its 200-day simple moving average is $30.67. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio (DPR) is 84.67%.

Analysts Set New Price Targets

HRL has been the subject of several recent research reports. Stephens reiterated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays raised 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 issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Hormel Foods currently has a consensus 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.