Zurcher Kantonalbank Zurich Cantonalbank Has $3.70 Million Holdings in Hormel Foods Co. (NYSE:HRL)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Hormel Foods Co. (NYSE:HRL) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,899 shares of the company’s stock after selling 38,185 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hormel Foods were worth $3,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in HRL. Sumitomo Mitsui Trust Group Inc. raised its holdings in Hormel Foods by 4.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,417 shares of the company’s stock valued at $25,944,000 after acquiring an additional 34,589 shares in the last quarter. D.A. Davidson & CO. raised its stake in Hormel Foods by 10.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock valued at $311,000 after purchasing an additional 934 shares in the last quarter. US Bancorp DE lifted its position in Hormel Foods by 3.4% during the fourth quarter. US Bancorp DE now owns 626,360 shares of the company’s stock worth $19,649,000 after purchasing an additional 20,514 shares during the period. Citigroup Inc. grew its stake in Hormel Foods by 13.1% during the third quarter. Citigroup Inc. now owns 452,510 shares of the company’s stock worth $14,345,000 after buying an additional 52,457 shares in the last quarter. Finally, Grandfield & Dodd LLC increased its holdings in Hormel Foods by 2.9% in the 3rd quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company’s stock valued at $29,302,000 after buying an additional 26,390 shares during the period. 40.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HRL shares. Citigroup cut their price target 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 issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Stock Up 0.1 %

Shares of NYSE:HRL opened at $29.53 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The company has a market capitalization of $16.24 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a fifty day moving average of $29.59 and a 200-day moving average of $30.85.

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.