Sanctuary Advisors LLC Takes $285,000 Position in Hormel Foods Co. (NYSE:HRL)

Sanctuary Advisors LLC acquired a new stake in Hormel Foods Co. (NYSE:HRL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,381 shares of the company's stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Crews Bank & Trust acquired a new position in Hormel Foods during the 4th quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of Hormel Foods during the 3rd quarter worth about $32,000. Prospera Private Wealth LLC acquired a new position in shares of Hormel Foods during the 3rd quarter worth about $39,000. Capital Performance Advisors LLP acquired a new position in shares of Hormel Foods during the third quarter worth approximately $47,000. Finally, McIlrath & Eck LLC boosted its position in shares of Hormel Foods by 47.5% in the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company's stock valued at $63,000 after acquiring an additional 638 shares during the period. Institutional investors and hedge funds own 40.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stephens reiterated an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, Citigroup reduced their target price on Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $31.80.

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Hormel Foods Price Performance

Shares of Hormel Foods stock traded up $0.92 during midday trading on Friday, hitting $29.92. 2,854,939 shares of the company were exchanged, compared to its average volume of 2,396,358. The firm has a 50 day simple moving average of $29.76 and a 200-day simple moving average of $30.94. The firm has a market cap of $16.45 billion, a P/E ratio of 20.49, a PEG 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 debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company 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 firm's revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. Research analysts forecast 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.