Commonwealth Equity Services LLC Has $6.30 Million Position in Hormel Foods Co. (NYSE:HRL)

Commonwealth Equity Services LLC lowered its position in shares of Hormel Foods Co. (NYSE:HRL) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 200,671 shares of the company’s stock after selling 5,609 shares during the period. Commonwealth Equity Services LLC’s holdings in Hormel Foods were worth $6,295,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in Hormel Foods during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new position in Hormel Foods during the third quarter valued at approximately $32,000. Prospera Private Wealth LLC acquired a new position in Hormel Foods during the third quarter valued at approximately $39,000. Fairway Wealth LLC acquired a new position in Hormel Foods during the fourth quarter valued at approximately $44,000. Finally, Capital Advisors Ltd. LLC lifted its stake in Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after buying an additional 690 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $30.04 on Friday. The company’s fifty day simple moving average is $29.54 and its 200-day simple moving average is $30.77. 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 firm has a market cap of $16.52 billion, a PE ratio of 20.57, a P/E/G ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently 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.