Hormel Foods Co. (NYSE:HRL) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in Hormel Foods Co. (NYSE:HRL) by 11.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,348,155 shares of the company’s stock after acquiring an additional 138,193 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Hormel Foods were worth $42,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Hormel Foods by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock worth $58,548,000 after purchasing an additional 66,261 shares during the period. Cerity Partners LLC increased its stake in Hormel Foods by 80.2% during the 3rd quarter. Cerity Partners LLC now owns 69,390 shares of the company’s stock worth $2,200,000 after buying an additional 30,879 shares during the period. Daiwa Securities Group Inc. boosted its position in Hormel Foods by 13.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 50,759 shares of the company’s stock valued at $1,609,000 after buying an additional 5,875 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Hormel Foods in the 3rd quarter valued at approximately $335,000. Finally, Bank of Montreal Can grew its stake in shares of Hormel Foods by 2.7% in the third quarter. Bank of Montreal Can now owns 968,296 shares of the company’s stock worth $30,714,000 after acquiring an additional 25,102 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

HRL has been the topic of several analyst reports. Barclays upgraded 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 issued a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 18th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Stock Up 0.1 %

Hormel Foods stock opened at $30.36 on Friday. The stock has a market cap of $16.70 billion, a PE ratio of 20.80, a P/E/G ratio of 2.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock’s fifty day moving average is $29.52 and its two-hundred day moving average is $30.68. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 3.82%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s payout ratio is 84.67%.

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.