81,964 Shares in Hormel Foods Co. (NYSE:HRL) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in Hormel Foods Co. (NYSE:HRL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 81,964 shares of the company’s stock, valued at approximately $2,571,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. D.A. Davidson & CO. boosted its stake in shares of Hormel Foods by 10.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock valued at $311,000 after buying an additional 934 shares during the period. US Bancorp DE lifted its position in shares of Hormel Foods by 3.4% during the 4th quarter. US Bancorp DE now owns 626,360 shares of the company’s stock valued at $19,649,000 after acquiring an additional 20,514 shares during the period. Citigroup Inc. lifted its position in shares of Hormel Foods by 13.1% during the 3rd quarter. Citigroup Inc. now owns 452,510 shares of the company’s stock valued at $14,345,000 after acquiring an additional 52,457 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Hormel Foods by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock worth $58,548,000 after purchasing an additional 66,261 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in shares of Hormel Foods in the third quarter worth $1,025,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analysts Set New Price Targets

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

Hormel Foods Stock Up 2.7 %

Shares of NYSE HRL opened at $29.59 on Thursday. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.73 and a beta of 0.21. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The stock has a 50-day moving average price of $29.50 and a two-hundred day moving average price of $30.70.

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Monday, April 14th. Hormel Foods’s payout ratio is 84.67%.

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.