Kinloch Capital LLC Cuts Stock Position in Hormel Foods Co. (NYSE:HRL)

Kinloch Capital LLC lessened its holdings in Hormel Foods Co. (NYSE:HRL) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,508 shares of the company’s stock after selling 3,466 shares during the period. Kinloch Capital LLC’s holdings in Hormel Foods were worth $2,024,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hormel Foods by 3.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,070,656 shares of the company’s stock worth $64,956,000 after purchasing an additional 73,297 shares during the period. Voloridge Investment Management LLC increased its holdings in Hormel Foods by 7.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,371,972 shares of the company’s stock valued at $43,039,000 after buying an additional 91,975 shares during the last quarter. Worldquant Millennium Advisors LLC increased its holdings in Hormel Foods by 599.1% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 368,624 shares of the company’s stock valued at $11,564,000 after buying an additional 315,897 shares during the last quarter. Woodline Partners LP purchased a new position in Hormel Foods in the fourth quarter valued at $548,000. Finally, iSAM Funds UK Ltd purchased a new position in Hormel Foods in the fourth quarter valued at $586,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Insider Activity at Hormel Foods

In other news, Director Elsa A. Murano sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.40, for a total transaction of $136,800.00. Following the sale, the director now owns 95,488 shares of the company’s stock, valued at $2,902,835.20. The trade was a 4.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stephens reissued an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Bank of America raised shares of Hormel Foods from an “underperform” rating to a “neutral” rating and increased their target price for the company from $29.00 to $35.00 in a research report on Tuesday, April 15th. Finally, Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and an average target price of $32.33.

Hormel Foods Stock Down 1.3%

Shares of NYSE:HRL opened at $30.14 on Tuesday. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.73 and a beta of 0.34. The firm’s 50-day simple moving average is $29.92 and its 200-day simple moving average is $30.29. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, July 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.85%. Hormel Foods’s dividend payout ratio (DPR) is presently 84.67%.

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.