Viawealth LLC Has $511,000 Position in Hormel Foods Co. (NYSE:HRL)

Viawealth LLC cut its position in Hormel Foods Co. (NYSE:HRL) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,287 shares of the company’s stock after selling 856 shares during the period. Viawealth LLC’s holdings in Hormel Foods were worth $511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRL. CIBC Asset Management Inc lifted its holdings in Hormel Foods by 6.2% during the third quarter. CIBC Asset Management Inc now owns 57,363 shares of the company’s stock worth $1,818,000 after acquiring an additional 3,350 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Hormel Foods by 23.9% in the third quarter. Empowered Funds LLC now owns 85,793 shares of the company’s stock valued at $2,720,000 after purchasing an additional 16,551 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Hormel Foods by 11.2% during the third quarter. Natixis Advisors LLC now owns 66,581 shares of the company’s stock worth $2,111,000 after buying an additional 6,710 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Hormel Foods during the third quarter worth about $2,177,000. Finally, Prospera Private Wealth LLC acquired a new stake in Hormel Foods in the 3rd quarter valued at approximately $39,000. 40.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stephens reaffirmed an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment 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. Based on data from MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Price Performance

NYSE:HRL opened at $29.75 on Thursday. The stock has a market capitalization of $16.36 billion, a PE ratio of 20.37, a P/E/G ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86. The firm has a fifty day simple moving average of $29.56 and a 200 day simple moving average of $30.80. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Hormel Foods Company 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.