Hormel Foods Co. (NYSE:HRL) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in shares of Hormel Foods Co. (NYSE:HRL) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,002 shares of the company’s stock after acquiring an additional 3,730 shares during the quarter. NEOS Investment Management LLC’s holdings in Hormel Foods were worth $502,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HRL. Greenleaf Trust increased its holdings in shares of Hormel Foods by 4.4% during the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after purchasing an additional 336 shares in the last quarter. CFS Investment Advisory Services LLC increased its holdings in Hormel Foods by 2.8% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock valued at $422,000 after buying an additional 360 shares in the last quarter. Empower Advisory Group LLC raised its position in shares of Hormel Foods by 4.0% in the fourth quarter. Empower Advisory Group LLC now owns 10,038 shares of the company’s stock worth $315,000 after acquiring an additional 389 shares during the period. New Century Financial Group LLC boosted its stake in shares of Hormel Foods by 6.2% during the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock worth $211,000 after acquiring an additional 392 shares in the last quarter. Finally, MML Investors Services LLC grew its position in shares of Hormel Foods by 4.8% during the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock valued at $289,000 after acquiring an additional 416 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Trading Up 0.1 %

HRL stock opened at $30.36 on Monday. The business’s 50-day moving average is $29.52 and its 200 day moving average is $30.67. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of 20.80, a PEG 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 Dividend Announcement

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

Wall Street Analyst Weigh In

HRL has been the topic of a number of recent analyst reports. Stephens reiterated an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.