Hormel Foods Co. (NYSE:HRL) Stock Position Decreased by Larson Financial Group LLC

Larson Financial Group LLC decreased its stake in shares of Hormel Foods Co. (NYSE:HRL) by 11.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,390 shares of the company’s stock after selling 917 shares during the period. Larson Financial Group LLC’s holdings in Hormel Foods were worth $232,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HRL. CWA Asset Management Group LLC acquired a new position in shares of Hormel Foods during the 3rd quarter valued at about $298,000. Covestor Ltd increased its holdings in shares of Hormel Foods by 41.5% during the 3rd quarter. Covestor Ltd now owns 2,843 shares of the company’s stock valued at $90,000 after acquiring an additional 834 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Hormel Foods by 10.1% during the 3rd quarter. Sigma Planning Corp now owns 15,804 shares of the company’s stock valued at $501,000 after acquiring an additional 1,449 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Hormel Foods during the 3rd quarter valued at about $226,000. Finally, Harbour Investments Inc. increased its holdings in shares of Hormel Foods by 485.0% during the 3rd quarter. Harbour Investments Inc. now owns 19,169 shares of the company’s stock valued at $608,000 after acquiring an additional 15,892 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HRL shares. Citigroup lowered their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and a consensus price target of $31.80.

Hormel Foods Stock Performance

HRL opened at $29.94 on Wednesday. The firm has a market capitalization of $16.47 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The stock’s 50 day moving average price is $29.71 and its two-hundred day moving average price is $30.90. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86.

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.