Peninsula Asset Management Inc. Lowers Holdings in Hormel Foods Co. (NYSE:HRL)

Peninsula Asset Management Inc. cut its holdings in Hormel Foods Co. (NYSE:HRL) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,110 shares of the company’s stock after selling 3,022 shares during the period. Peninsula Asset Management Inc.’s holdings in Hormel Foods were worth $2,293,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of Hormel Foods by 2.5% during the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after acquiring an additional 617,308 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Hormel Foods by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company’s stock worth $232,646,000 after acquiring an additional 120,212 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Hormel Foods by 5.2% during the 3rd quarter. Stifel Financial Corp now owns 3,267,186 shares of the company’s stock worth $103,570,000 after acquiring an additional 162,577 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after acquiring an additional 1,175,087 shares in the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Hormel Foods by 56.0% during the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock worth $70,934,000 after acquiring an additional 802,816 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Citigroup cut their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Price Performance

HRL opened at $29.53 on Friday. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $29.59 and its 200-day simple moving average is $30.86. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 20.22, a PEG 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.