Mitsubishi UFJ Asset Management Co. Ltd. Has $15.29 Million Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Hormel Foods Co. (NYSE:HRL) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 469,111 shares of the company’s stock after acquiring an additional 19,466 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Hormel Foods were worth $15,293,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HRL. Janiczek Wealth Management LLC lifted its stake in shares of Hormel Foods by 100.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $66,000 after purchasing an additional 1,033 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Hormel Foods by 21.1% during the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after buying an additional 361 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Hormel Foods by 516.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock worth $82,000 after buying an additional 2,133 shares during the period. RIA Advisory Group LLC bought a new stake in shares of Hormel Foods in the 4th quarter valued at $86,000. Finally, Covestor Ltd lifted its position in shares of Hormel Foods by 23.7% during the 3rd quarter. Covestor Ltd now owns 2,927 shares of the company’s stock valued at $111,000 after acquiring an additional 561 shares during the period. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Stock Up 0.6 %

Shares of NYSE HRL opened at $36.31 on Friday. The business’s fifty day moving average price is $34.89 and its 200-day moving average price is $32.72. Hormel Foods Co. has a one year low of $28.51 and a one year high of $41.73. The stock has a market capitalization of $19.89 billion, a PE ratio of 24.87, a P/E/G ratio of 3.48 and a beta of 0.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 0.79.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, February 29th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. On average, equities research analysts anticipate that Hormel Foods Co. will post 1.59 EPS for the current year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, March 25th were issued a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, April 12th. Hormel Foods’s payout ratio is 77.40%.

Insider Activity

In other news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.18, for a total value of $526,372.00. Following the completion of the transaction, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,325,231.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total value of $349,500.00. Following the transaction, the senior vice president now owns 38,708 shares in the company, valued at approximately $1,352,844.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the sale, the vice president now owns 68,029 shares of the company’s stock, valued at $2,325,231.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,800 shares of company stock worth $1,414,872. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on HRL shares. The Goldman Sachs Group upped their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Citigroup started coverage on Hormel Foods in a research note on Thursday, February 1st. They issued a “neutral” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. Finally, Barclays raised their price objective on shares of Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.00.

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.