Shares of Hormel Foods Corp. (NYSE:HRL) traded down 0.7% on Monday . The stock traded as low as $36.49 and last traded at $36.81, with a volume of 668,782 shares trading hands. The stock had previously closed at $37.06.

HRL has been the subject of several recent research reports. Jefferies Group restated a “hold” rating on shares of Hormel Foods Corp. in a research report on Wednesday, August 3rd. Zacks Investment Research lowered shares of Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 6th. Finally, Deutsche Bank AG restated a “hold” rating and set a $38.00 price target on shares of Hormel Foods Corp. in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.27.

The firm has a market capitalization of $19.17 billion and a P/E ratio of 24.94. The firm’s 50 day moving average price is $36.53 and its 200 day moving average price is $38.90.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, July 18th were given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, July 14th.

In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 5,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $36.74, for a total transaction of $183,700.00. Following the transaction, the director now directly owns 96,416 shares of the company’s stock, valued at approximately $3,542,323.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Several hedge funds have recently modified their holdings of the stock. State of Tennessee Treasury Department increased its stake in shares of Hormel Foods Corp. by 305.1% in the fourth quarter. State of Tennessee Treasury Department now owns 83,046 shares of the company’s stock valued at $6,567,000 after buying an additional 62,546 shares during the last quarter. US Bancorp DE increased its stake in shares of Hormel Foods Corp. by 32.6% in the fourth quarter. US Bancorp DE now owns 343,844 shares of the company’s stock valued at $27,191,000 after buying an additional 84,467 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Hormel Foods Corp. by 2.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 64,206 shares of the company’s stock valued at $5,077,000 after buying an additional 1,569 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of Hormel Foods Corp. during the fourth quarter valued at $1,525,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Hormel Foods Corp. by 168.4% in the fourth quarter. Advisors Asset Management Inc. now owns 30,797 shares of the company’s stock valued at $2,435,000 after buying an additional 19,322 shares during the last quarter.

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