14,388 Shares in Hormel Foods Co. (NYSE:HRL) Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC bought a new position in shares of Hormel Foods Co. (NYSE:HRL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,388 shares of the company’s stock, valued at approximately $451,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new stake in shares of Hormel Foods during the 4th quarter worth $25,000. Brooklyn Investment Group purchased a new stake in shares of Hormel Foods during the third quarter valued at $32,000. Fairway Wealth LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $44,000. Capital Advisors Ltd. LLC increased 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 worth $47,000 after purchasing an additional 690 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after buying an additional 729 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on HRL. Stephens restated an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report 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 given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.80.

Hormel Foods Stock Up 0.1 %

Shares of HRL opened at $30.36 on Friday. The business’s 50 day simple moving average is $29.52 and its 200-day simple moving average is $30.67. 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 Co. has a one year low of $27.59 and a one year high of $36.86. The company has a market capitalization of $16.70 billion, a P/E ratio of 20.80, a PEG ratio of 2.73 and a beta of 0.21.

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 given a $0.29 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. Hormel Foods’s payout ratio is 84.67%.

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.