Mariner LLC Has $2.07 Million Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Mariner LLC raised its position in shares of Hormel Foods Co. (NYSE:HRL) by 19.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,956 shares of the company’s stock after purchasing an additional 10,889 shares during the period. Mariner LLC’s holdings in Hormel Foods were worth $2,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new stake in shares of Hormel Foods during the 4th quarter worth $25,000. Fairway Wealth LLC bought a new position in shares of Hormel Foods in the fourth quarter worth about $44,000. Capital Advisors Ltd. LLC boosted its stake in shares of 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 in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after purchasing an additional 729 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Hormel Foods during the 4th quarter worth approximately $48,000. 40.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on HRL shares. Bank of America raised shares of Hormel Foods from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $29.00 to $35.00 in a research note on Tuesday, April 15th. Stephens reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Barclays raised 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, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.33.

Hormel Foods Trading Up 0.3 %

Shares of HRL stock opened at $30.81 on Thursday. The stock has a 50-day moving average of $29.74 and a 200-day moving average of $30.49. 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 stock has a market cap of $16.94 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 2.73 and a beta of 0.31. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Hormel Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. Hormel Foods’s dividend payout ratio (DPR) is currently 84.67%.

Insider Activity

In other Hormel Foods news, Director Elsa A. Murano sold 4,500 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were 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 approximately $2,902,835.20. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

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.