Virtu Financial LLC Invests $260,000 in Hormel Foods Co. (NYSE:HRL)

Virtu Financial LLC purchased a new stake in shares of Hormel Foods Co. (NYSE:HRL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,277 shares of the company’s stock, valued at approximately $260,000.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HRL. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays raised shares of 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.80.

Hormel Foods Trading Up 0.1 %

NYSE:HRL opened at $30.36 on Friday. 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 twelve month low of $27.59 and a twelve month high of $36.86. The company has a market cap of $16.70 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The business has a 50 day moving average price of $29.52 and a two-hundred day moving average price of $30.68.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, April 14th. Hormel Foods’s payout ratio is presently 84.67%.

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.