SlateStone Wealth LLC Sells 1,350 Shares of Hormel Foods Co. (NYSE:HRL)

SlateStone Wealth LLC cut its position in Hormel Foods Co. (NYSE:HRL) by 8.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,695 shares of the company’s stock after selling 1,350 shares during the period. SlateStone Wealth LLC’s holdings in Hormel Foods were worth $461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Greenleaf Trust raised its stake in Hormel Foods by 4.4% in the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after purchasing an additional 336 shares in the last quarter. CFS Investment Advisory Services LLC raised its stake in Hormel Foods by 2.8% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock valued at $422,000 after purchasing an additional 360 shares in the last quarter. Empower Advisory Group LLC raised its stake in Hormel Foods by 4.0% in the fourth quarter. Empower Advisory Group LLC now owns 10,038 shares of the company’s stock valued at $315,000 after purchasing an additional 389 shares in the last quarter. New Century Financial Group LLC raised its stake in Hormel Foods by 6.2% in the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock valued at $211,000 after purchasing an additional 392 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in Hormel Foods by 4.8% in the third quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock valued at $289,000 after purchasing an additional 416 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on HRL shares. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Citigroup decreased 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. Finally, Stephens reiterated an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.80.

Hormel Foods Stock Performance

Hormel Foods stock opened at $29.53 on Monday. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $29.59 and its two-hundred day moving average price is $30.84. The stock has a market cap of $16.24 billion, a PE ratio of 20.22, a P/E/G ratio of 2.73 and a beta of 0.21.

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.