Corient Private Wealth LLC Has $1.04 Million Stake in Hormel Foods Co. (NYSE:HRL)

Corient Private Wealth LLC decreased its holdings in Hormel Foods Co. (NYSE:HRL) by 34.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,015 shares of the company’s stock after selling 17,070 shares during the period. Corient Private Wealth LLC’s holdings in Hormel Foods were worth $1,036,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Crews Bank & Trust bought a new position in Hormel Foods in the fourth quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in shares of Hormel Foods during the 3rd quarter valued at approximately $32,000. Fairway Wealth LLC acquired a new position in Hormel Foods during the 4th quarter worth approximately $44,000. Capital Advisors Ltd. LLC lifted its stake in Hormel Foods by 86.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after purchasing an additional 690 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its position in Hormel Foods by 91.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after buying an additional 729 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Trading Up 2.7 %

HRL opened at $29.59 on Thursday. The company has a market cap of $16.27 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a fifty day moving average price of $29.50 and a two-hundred day moving average price of $30.70. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be paid a $0.29 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.92%. Hormel Foods’s dividend payout ratio (DPR) is presently 84.67%.

Analyst Upgrades and Downgrades

HRL has been the subject of several research analyst reports. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. 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 company. According to MarketBeat.com, the company 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.