Peninsula Asset Management Inc. Sells 3,022 Shares of Hormel Foods Co. (NYSE:HRL)

Peninsula Asset Management Inc. lowered its stake in shares of Hormel Foods Co. (NYSE:HRL) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,110 shares of the company’s stock after selling 3,022 shares during the quarter. Peninsula Asset Management Inc.’s holdings in Hormel Foods were worth $2,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in Hormel Foods in the fourth quarter valued at about $25,000. Brooklyn Investment Group acquired a new stake in Hormel Foods during the third quarter worth about $32,000. Prospera Private Wealth LLC acquired a new stake in Hormel Foods during the third quarter worth about $39,000. Fairway Wealth LLC acquired a new stake in Hormel Foods in the fourth quarter valued at approximately $44,000. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after acquiring an additional 690 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Analysts Set New Price Targets

HRL has been the topic of a number of analyst reports. Stephens reiterated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup reduced their target price on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.80.

Hormel Foods Trading Up 0.1 %

Shares of HRL stock opened at $29.53 on Friday. The business’s 50 day moving average is $29.59 and its two-hundred day moving average is $30.86. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86. The company has a market capitalization of $16.24 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

About Hormel Foods

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.