AMF Tjanstepension AB Has $3.85 Million Position in Hormel Foods Co. (NYSE:HRL)

AMF Tjanstepension AB cut its position in Hormel Foods Co. (NYSE:HRL) by 52.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,442 shares of the company’s stock after selling 135,114 shares during the quarter. AMF Tjanstepension AB’s holdings in Hormel Foods were worth $3,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HRL. State Street Corp grew 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 valued at $794,659,000 after purchasing an additional 617,308 shares during the last quarter. Geode Capital Management LLC grew 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 valued at $232,646,000 after purchasing an additional 120,212 shares during the last quarter. Stifel Financial Corp grew 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 valued at $103,570,000 after purchasing an additional 162,577 shares during the last quarter. Bank of New York Mellon Corp grew 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 valued at $91,810,000 after purchasing an additional 1,175,087 shares during the last quarter. Finally, Holocene Advisors LP grew 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 valued at $70,934,000 after purchasing an additional 802,816 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HRL shares. Barclays raised shares of 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 set a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Citigroup decreased their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Trading Up 3.2 %

HRL opened at $29.92 on Friday. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The firm has a market capitalization of $16.45 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.73 and a beta of 0.21. The company’s 50 day moving average price is $29.76 and its two-hundred day moving average price is $30.93.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. As a group, research analysts predict that Hormel Foods Co. will post 1.65 earnings per share for the current year.

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.