Dynamic Technology Lab Private Ltd Has $1.05 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Dynamic Technology Lab Private Ltd increased its holdings in Hormel Foods Co. (NYSE:HRL) by 217.0% during the fourth quarter, HoldingsChannel reports. The fund owned 33,469 shares of the company’s stock after acquiring an additional 22,911 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Hormel Foods were worth $1,050,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HRL. Crews Bank & Trust purchased a new stake in shares of Hormel Foods in the fourth quarter worth approximately $25,000. Fairway Wealth LLC purchased a new stake in Hormel Foods in the 4th quarter valued at $44,000. Capital Advisors Ltd. LLC lifted its stake in Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after acquiring an additional 690 shares in the last quarter. Lindbrook Capital LLC boosted 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 acquiring an additional 729 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Hormel Foods in the 4th quarter worth $48,000. Institutional investors own 40.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on HRL. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens restated an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One research 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’s stock. According to data from MarketBeat.com, Hormel Foods currently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Price Performance

HRL opened at $30.76 on Friday. The firm has a market cap of $16.92 billion, a P/E ratio of 21.07, a PEG ratio of 2.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The firm has a 50-day moving average of $29.55 and a 200 day moving average of $30.63.

Hormel Foods Announces Dividend

The business 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. The ex-dividend date is Monday, April 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. Hormel Foods’s payout ratio is currently 84.67%.

Insider Buying and Selling

In related 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 value of $136,800.00. Following the completion of the sale, the director now owns 95,488 shares of the company’s stock, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.

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.