NEOS Investment Management LLC Increases Position in Hormel Foods Co. (NYSE:HRL)

NEOS Investment Management LLC increased its stake in shares of Hormel Foods Co. (NYSE:HRL) by 30.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,002 shares of the company’s stock after purchasing an additional 3,730 shares during the quarter. NEOS Investment Management LLC’s holdings in Hormel Foods were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HRL. Cerity Partners LLC lifted its position in shares of Hormel Foods by 80.2% during the third quarter. Cerity Partners LLC now owns 69,390 shares of the company’s stock valued at $2,200,000 after buying an additional 30,879 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Hormel Foods during the 3rd quarter worth approximately $335,000. Quantbot Technologies LP purchased a new stake in Hormel Foods during the third quarter valued at approximately $144,000. Brooklyn Investment Group acquired a new stake in Hormel Foods in the third quarter valued at approximately $32,000. Finally, Townsquare Capital LLC purchased a new position in Hormel Foods in the third quarter worth $290,000. Institutional investors own 40.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a 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 report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Price Performance

Shares of HRL opened at $30.36 on Monday. The firm has a market capitalization of $16.70 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The company’s fifty day moving average price is $29.52 and its 200-day moving average price is $30.67. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Hormel Foods Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s dividend 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.