Tucker Asset Management LLC Has $158,000 Stock Position in Hormel Foods Co. (NYSE:HRL)

Tucker Asset Management LLC decreased its holdings in Hormel Foods Co. (NYSE:HRL) by 22.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,035 shares of the company’s stock after selling 1,459 shares during the quarter. Tucker Asset Management LLC’s holdings in Hormel Foods were worth $158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Hormel Foods during the fourth quarter worth about $102,598,000. Bank of New York Mellon Corp grew its stake in Hormel Foods by 67.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock valued at $91,810,000 after purchasing an additional 1,175,087 shares during the period. Holocene Advisors LP increased its position in shares of Hormel Foods by 56.0% during the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock valued at $70,934,000 after purchasing an additional 802,816 shares during the last quarter. State Street Corp raised its stake in shares of Hormel Foods by 2.5% during the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after purchasing an additional 617,308 shares during the period. Finally, Van ECK Associates Corp bought a new position in Hormel Foods during the fourth quarter valued at about $16,612,000. 40.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HRL. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens restated an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 18th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Stock Performance

Hormel Foods stock opened at $30.36 on Friday. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.73 and a beta of 0.21. The stock’s 50 day simple moving average is $29.52 and its two-hundred day simple moving average is $30.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods Dividend Announcement

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 given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Monday, April 14th. Hormel Foods’s dividend payout ratio (DPR) 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.