AlphaQuest LLC Cuts Stock Holdings in Hormel Foods Co. (NYSE:HRL)

AlphaQuest LLC lowered its stake in Hormel Foods Co. (NYSE:HRL) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,488 shares of the company’s stock after selling 394 shares during the period. AlphaQuest LLC’s holdings in Hormel Foods were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Amundi increased its stake in Hormel Foods by 16.5% in the 4th quarter. Amundi now owns 1,406,527 shares of the company’s stock worth $42,815,000 after purchasing an additional 198,931 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Hormel Foods by 6.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 67,830 shares of the company’s stock worth $2,128,000 after buying an additional 4,190 shares during the period. Oak Hill Wealth Advisors LLC raised its holdings in Hormel Foods by 200.0% during the 4th quarter. Oak Hill Wealth Advisors LLC now owns 17,000 shares of the company’s stock valued at $533,000 after buying an additional 34,000 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Hormel Foods during the 4th quarter valued at $201,000. Finally, Edgestream Partners L.P. increased its position in shares of Hormel Foods by 138.9% in the fourth quarter. Edgestream Partners L.P. now owns 209,720 shares of the company’s stock valued at $6,579,000 after acquiring an additional 121,941 shares during the period. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 0.1 %

Shares of NYSE:HRL opened at $29.53 on Friday. 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 Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The firm has a market capitalization of $16.24 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.73 and a beta of 0.21. The stock has a 50 day moving average price of $29.59 and a 200-day moving average price of $30.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HRL shares. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Citigroup decreased their target price on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.80.

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.