Tucker Asset Management LLC Sells 1,459 Shares of Hormel Foods Co. (NYSE:HRL)

Tucker Asset Management LLC reduced its position in shares of Hormel Foods Co. (NYSE:HRL) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,035 shares of the company’s stock after selling 1,459 shares during the quarter. Tucker Asset Management LLC’s holdings in Hormel Foods were worth $158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allstate Corp bought a new position in shares of Hormel Foods during the 4th quarter valued at approximately $285,000. Maridea Wealth Management LLC bought a new stake in shares of Hormel Foods during the fourth quarter valued at approximately $451,000. DnB Asset Management AS increased its stake in Hormel Foods by 14.7% in the 4th quarter. DnB Asset Management AS now owns 71,010 shares of the company’s stock worth $2,228,000 after acquiring an additional 9,120 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in Hormel Foods by 6.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 108,539 shares of the company’s stock worth $3,405,000 after purchasing an additional 6,097 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Hormel Foods by 8.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 176,777 shares of the company’s stock worth $5,545,000 after acquiring an additional 14,503 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 0.1 %

Shares of NYSE HRL opened at $30.36 on Friday. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The stock’s fifty day simple moving average is $29.52 and its two-hundred day simple moving average is $30.68. The stock has a market capitalization of $16.70 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s dividend payout ratio is currently 84.67%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.80.

Hormel Foods Company 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.