1,400 Shares in Hormel Foods Co. (NYSE:HRL) Bought by Fairway Wealth LLC

Fairway Wealth LLC acquired a new stake in shares of Hormel Foods Co. (NYSE:HRL) in the 4th quarter, Holdings Channel reports. The firm acquired 1,400 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors have also recently made changes to their positions in HRL. Bank of New York Mellon Corp boosted its holdings in shares of Hormel Foods by 67.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock valued at $91,810,000 after buying an additional 1,175,087 shares in the last quarter. Holocene Advisors LP lifted its stake in Hormel Foods by 56.0% during the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock valued at $70,934,000 after acquiring an additional 802,816 shares during the period. State Street Corp lifted its stake in Hormel Foods by 2.5% during the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company’s stock valued at $794,659,000 after acquiring an additional 617,308 shares during the period. Van ECK Associates Corp acquired a new stake in Hormel Foods during the 4th quarter valued at approximately $16,612,000. Finally, Vest Financial LLC lifted its stake in Hormel Foods by 17.0% during the 4th quarter. Vest Financial LLC now owns 1,825,660 shares of the company’s stock valued at $57,271,000 after acquiring an additional 264,813 shares during the period. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Up 1.0 %

NYSE 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 capitalization of $16.63 billion, a P/E ratio of 20.71, a PEG ratio of 2.73 and a beta of 0.21. The firm’s 50-day moving average is $29.74 and its two-hundred day moving average is $30.91. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup cut 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. Stephens reaffirmed an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.80.

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.