Securian Asset Management Inc. Reduces Position in Hormel Foods Co. (NYSE:HRL)

Securian Asset Management Inc. trimmed its holdings in Hormel Foods Co. (NYSE:HRL) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,619 shares of the company’s stock after selling 422 shares during the quarter. Securian Asset Management Inc.’s holdings in Hormel Foods were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Hormel Foods by 8.7% during the third quarter. Victory Capital Management Inc. now owns 908,086 shares of the company’s stock worth $28,786,000 after buying an additional 72,941 shares during the last quarter. CIBC Asset Management Inc lifted its position in Hormel Foods by 6.2% during the 3rd 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 during the period. Empowered Funds LLC increased 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 during the period. Natixis Advisors LLC raised its stake 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 purchasing an additional 6,710 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Hormel Foods during the third quarter worth $201,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HRL has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Stephens reissued an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.80.

Hormel Foods Stock Performance

Shares of HRL opened at $30.01 on Tuesday. The company has a market capitalization of $16.50 billion, a PE ratio of 20.55, a P/E/G 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 company has a 50-day simple moving average of $29.58 and a 200-day simple moving average of $30.82. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36.

About Hormel Foods

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.