Orion Portfolio Solutions LLC Raises Stock Position in Hormel Foods Co. (NYSE:HRL)

Orion Portfolio Solutions LLC grew its stake in shares of Hormel Foods Co. (NYSE:HRL) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,539 shares of the company’s stock after acquiring an additional 6,097 shares during the period. Orion Portfolio Solutions LLC’s holdings in Hormel Foods were worth $3,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Crews Bank & Trust purchased a new stake in Hormel Foods during the fourth quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of Hormel Foods during the 3rd quarter worth $32,000. Fairway Wealth LLC purchased a new stake in shares of Hormel Foods in the 4th quarter worth about $44,000. Capital Advisors Ltd. LLC grew its stake in 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 acquiring an additional 690 shares during the last quarter. Finally, Lindbrook Capital LLC increased 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 valued at $48,000 after acquiring an additional 729 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HRL shares. Stephens reiterated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.80.

Hormel Foods Stock Performance

NYSE:HRL opened at $30.36 on Monday. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86. The firm has a 50 day simple moving average of $29.52 and a 200-day simple moving average of $30.67. The firm has a market cap of $16.70 billion, a PE ratio of 20.80, a P/E/G 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.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio is presently 84.67%.

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.