California Public Employees Retirement System Boosts Holdings in Hormel Foods Co. (NYSE:HRL)

California Public Employees Retirement System increased its position in shares of Hormel Foods Co. (NYSE:HRL) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,326,642 shares of the company’s stock after buying an additional 5,586 shares during the quarter. California Public Employees Retirement System owned about 0.24% of Hormel Foods worth $41,617,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in Hormel Foods in the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new stake in Hormel Foods in the 4th quarter valued at about $44,000. Capital Advisors Ltd. LLC lifted its position in Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after buying an additional 690 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Hormel Foods by 91.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after acquiring an additional 729 shares during the last quarter. Finally, McIlrath & Eck LLC raised its stake in shares of Hormel Foods by 47.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock valued at $63,000 after acquiring an additional 638 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Elsa A. Murano sold 4,500 shares of Hormel Foods stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of the transaction, the director now owns 95,488 shares in the company, valued at approximately $2,902,835.20. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.

Hormel Foods Price Performance

Hormel Foods stock opened at $30.63 on Thursday. 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 52-week low of $27.59 and a 52-week high of $36.86. The firm has a market cap of $16.84 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company’s 50 day moving average is $29.54 and its two-hundred day moving average is $30.65.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be issued 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 yield of 3.79%. Hormel Foods’s dividend payout ratio (DPR) is presently 84.67%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HRL shares. Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.80.

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.