Hormel Foods Co. (NYSE:HRL) Position Boosted by Candriam S.C.A.

Candriam S.C.A. grew its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 33,221 shares of the company’s stock after purchasing an additional 747 shares during the period. Candriam S.C.A.’s holdings in Hormel Foods were worth $1,042,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HRL. Robeco Institutional Asset Management B.V. boosted its position in shares of Hormel Foods by 56.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 28,171 shares of the company’s stock valued at $893,000 after purchasing an additional 10,163 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Hormel Foods during the 3rd quarter valued at about $47,000. CWA Asset Management Group LLC bought a new position in shares of Hormel Foods during the 3rd quarter valued at about $298,000. Covestor Ltd boosted its position 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 purchasing an additional 834 shares in the last quarter. Finally, Sigma Planning Corp boosted its position 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 purchasing an additional 1,449 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL opened at $30.24 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock has a market cap of $16.63 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.73 and a beta of 0.21. The company has a 50-day moving average of $29.74 and a two-hundred day moving average of $30.91. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HRL shares. Stephens restated 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 shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Citigroup decreased their target price on shares of 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 given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.