CIBC Private Wealth Group LLC Has $320,000 Stock Position in Hormel Foods Co. (NYSE:HRL)

CIBC Private Wealth Group LLC boosted its stake in Hormel Foods Co. (NYSE:HRL) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 10,500 shares of the company’s stock after purchasing an additional 561 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Hormel Foods were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Townsquare Capital LLC bought a new stake in shares of Hormel Foods during the 3rd quarter worth approximately $290,000. Public Sector Pension Investment Board lifted its stake in Hormel Foods by 17.9% during the third quarter. Public Sector Pension Investment Board now owns 11,206 shares of the company’s stock worth $355,000 after purchasing an additional 1,700 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Hormel Foods by 3.5% in the 3rd quarter. Captrust Financial Advisors now owns 13,690 shares of the company’s stock valued at $434,000 after purchasing an additional 459 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of Hormel Foods in the 3rd quarter valued at $249,000. Finally, HighTower Advisors LLC raised its holdings in shares of Hormel Foods by 2.0% during the 3rd quarter. HighTower Advisors LLC now owns 77,360 shares of the company’s stock worth $2,454,000 after buying an additional 1,498 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Hormel Foods stock opened at $30.76 on Friday. The business has a 50 day moving average of $29.55 and a 200-day moving average of $30.63. The company has a market capitalization of $16.92 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19.

Hormel Foods Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, April 14th. Hormel Foods’s payout ratio is currently 84.67%.

Analysts Set New Price Targets

Several research firms recently weighed in on HRL. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and set a $31.00 price objective 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.80.

Insider Buying and Selling

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 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. The trade was a 4.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

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.