Hormel Foods Co. (NYSE:HRL) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its stake in Hormel Foods Co. (NYSE:HRL) by 14.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 114,528 shares of the company’s stock after purchasing an additional 14,886 shares during the quarter. Cibc World Markets Corp’s holdings in Hormel Foods were worth $3,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in Hormel Foods during the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new stake in Hormel Foods during the third quarter worth about $32,000. Prospera Private Wealth LLC purchased a new stake in Hormel Foods during the third quarter worth about $39,000. Fairway Wealth LLC purchased a new stake in Hormel Foods during the fourth quarter worth about $44,000. Finally, Capital Advisors Ltd. LLC increased its stake in Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after purchasing an additional 690 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Stock Performance

Shares of HRL opened at $29.68 on Friday. The stock has a 50 day moving average price of $29.54 and a 200 day moving average price of $30.79. 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 company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Stephens restated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.