AssuredPartners Investment Advisors LLC Invests $440,000 in Hormel Foods Co. (NYSE:HRL)

AssuredPartners Investment Advisors LLC bought a new stake in Hormel Foods Co. (NYSE:HRL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,013 shares of the company’s stock, valued at approximately $440,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Hormel Foods during the fourth quarter worth $25,000. Brooklyn Investment Group purchased a new position in shares of Hormel Foods in the 3rd quarter valued at about $32,000. Fairway Wealth LLC acquired a new stake in shares of Hormel Foods during the 4th quarter worth about $44,000. Capital Advisors Ltd. LLC lifted its stake in Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after purchasing an additional 690 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Hormel Foods by 91.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after purchasing an additional 729 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

HRL stock opened at $30.32 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $16.67 billion, a P/E ratio of 20.76, a PEG ratio of 2.73 and a beta of 0.21. The business has a 50 day simple moving average of $29.51 and a 200-day simple moving average of $30.69. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86.

Hormel Foods Dividend Announcement

The firm 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s payout ratio is currently 84.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HRL. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two 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 MarketBeat, Hormel Foods currently has an average rating of “Hold” and an average price target of $31.80.

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.