Royal Bank of Canada Bolsters Its Stake in Hormel Foods

Royal Bank of Canada acquired an additional 82,028 shares of Hormel Foods Corporation during the first quarter, increasing its holdings by 37.5%. The fund now owns 300,674 shares, valued at $6,811,000.

This is not the only major investor to increase its stake in Hormel Foods. Vest Financial LLC raised its position by 9.1% during the fourth quarter and now owns 2,042,541 shares. Other large investors, including Masters Capital Management, Fidelity National Financial Inc., and Nomura Asset Management Co. Ltd., also increased their holdings.

Hormel Foods has a market cap of $13.37 billion and a P/E ratio of 28.58. The company's dividend payout ratio is 137.65%. Hormel Foods' stock price opened at $24.29 on Wednesday, and the firm's 50-day simple moving average is $24.86.