Viawealth LLC Sells 856 Shares of Hormel Foods Co. (NYSE:HRL)

Viawealth LLC lessened its holdings in Hormel Foods Co. (NYSE:HRL) by 5.0% during the fourth quarter, Holdings Channel reports. The fund owned 16,287 shares of the company’s stock after selling 856 shares during the period. Viawealth LLC’s holdings in Hormel Foods were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in HRL. Crews Bank & Trust bought a new position in shares of Hormel Foods in the fourth quarter valued at about $25,000. Brooklyn Investment Group acquired a new position in shares of Hormel Foods in the third quarter valued at approximately $32,000. Prospera Private Wealth LLC acquired a new stake in Hormel Foods during the 3rd quarter worth approximately $39,000. Fairway Wealth LLC bought a new stake in Hormel Foods in the 4th quarter valued at $44,000. Finally, Capital Advisors Ltd. LLC increased its position in Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after buying an additional 690 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HRL. Stephens restated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Price Performance

HRL stock opened at $29.75 on Thursday. The company’s 50-day moving average price is $29.56 and its two-hundred day moving average price is $30.80. 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 firm has a market cap of $16.36 billion, a P/E ratio of 20.37, 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.