Cresset Asset Management LLC Has $3.17 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Cresset Asset Management LLC lessened its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,907 shares of the company’s stock after selling 30,285 shares during the period. Cresset Asset Management LLC’s holdings in Hormel Foods were worth $3,165,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of HRL. Crews Bank & Trust acquired a new position in Hormel Foods during the 4th quarter worth about $25,000. Fairway Wealth LLC acquired a new position in shares of Hormel Foods in the fourth quarter worth approximately $44,000. Capital Advisors Ltd. LLC boosted its holdings 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 acquiring an additional 690 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Hormel Foods during the 4th quarter valued at approximately $48,000. Finally, Lindbrook Capital LLC raised its holdings in Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock worth $48,000 after purchasing an additional 729 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Up 1.0 %

NYSE:HRL opened at $29.40 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 firm has a fifty day simple moving average of $29.87 and a two-hundred day simple moving average of $30.36. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.73 and a beta of 0.34. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be paid 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 3.95%. Hormel Foods’s dividend payout ratio (DPR) is presently 84.67%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Bank of America raised shares of Hormel Foods from an “underperform” rating to a “neutral” rating and upped their price target for the company from $29.00 to $35.00 in a research report on Tuesday, April 15th. Finally, Stephens reissued an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $32.33.

Insider Activity at Hormel Foods

In other news, Director Elsa A. Murano sold 4,500 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 95,488 shares of the company’s stock, valued at $2,902,835.20. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

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.