Quantbot Technologies LP Buys 50,231 Shares of Hormel Foods Co. (NYSE:HRL)

Quantbot Technologies LP lifted its stake in Hormel Foods Co. (NYSE:HRL) by 1,109.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,760 shares of the company’s stock after buying an additional 50,231 shares during the period. Quantbot Technologies LP’s holdings in Hormel Foods were worth $1,718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of HRL. Blueshift Asset Management LLC bought a new stake in Hormel Foods in the fourth quarter valued at approximately $264,000. Teacher Retirement System of Texas bought a new stake in Hormel Foods during the 4th quarter valued at $2,571,000. FreeGulliver LLC purchased a new stake in Hormel Foods during the 4th quarter valued at $273,000. Generali Asset Management SPA SGR bought a new stake in Hormel Foods in the 4th quarter worth $908,000. Finally, Cibc World Markets Corp increased its position in shares of Hormel Foods by 14.9% in the fourth quarter. Cibc World Markets Corp now owns 114,528 shares of the company’s stock valued at $3,593,000 after acquiring an additional 14,886 shares during the period. Institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

HRL has been the subject of a number of analyst reports. Stephens reiterated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a 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 research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average price target of $31.80.

Hormel Foods Trading Down 2.3 %

Shares of HRL opened at $29.29 on Tuesday. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86. 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’s 50-day moving average price is $29.52 and its 200-day moving average price is $30.73. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.73 and a beta of 0.21.

Hormel Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.96%. Hormel Foods’s dividend payout ratio (DPR) 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.