Proficio Capital Partners LLC Buys New Position in Hormel Foods Co. (NYSE:HRL)

Proficio Capital Partners LLC bought a new stake in shares of Hormel Foods Co. (NYSE:HRL) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 42,412 shares of the company’s stock, valued at approximately $1,330,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HRL. Natixis Advisors LLC boosted its position in shares of Hormel Foods by 11.2% during the 3rd quarter. Natixis Advisors LLC now owns 66,581 shares of the company’s stock valued at $2,111,000 after purchasing an additional 6,710 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Hormel Foods in the third quarter worth approximately $2,177,000. Prospera Private Wealth LLC bought a new position in Hormel Foods in the third quarter worth approximately $39,000. Charles Schwab Investment Management Inc. boosted its holdings in Hormel Foods by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock worth $58,548,000 after acquiring an additional 66,261 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in Hormel Foods by 20.8% in the third quarter. Raymond James Trust N.A. now owns 18,788 shares of the company’s stock worth $596,000 after acquiring an additional 3,236 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Analyst Ratings Changes

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

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $29.68 on Friday. The company has a market cap of $16.32 billion, a PE 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. The business 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.

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.