Hormel Foods Co. (NYSE:HRL) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB cut its holdings in Hormel Foods Co. (NYSE:HRL - Free Report) by 52.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 large investors have also made changes to their positions in HRL. Bank of New York Mellon Corp increased its holdings in Hormel Foods by 67.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company's stock worth $91,810,000 after acquiring an additional 1,175,087 shares in the last quarter. Holocene Advisors LP grew its position in shares of Hormel Foods by 56.0% in the third 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 period. State Street Corp increased its stake in shares of Hormel Foods by 2.5% during the third quarter. State Street Corp now owns 25,068,102 shares of the company's stock worth $794,659,000 after purchasing an additional 617,308 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Hormel Foods during the 4th quarter worth about $16,612,000. Finally, Vest Financial LLC lifted its stake in Hormel Foods by 17.0% in the 4th quarter. Vest Financial LLC now owns 1,825,660 shares of the company's stock valued at $57,271,000 after buying an additional 264,813 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Price Performance

Shares of Hormel Foods stock traded down $0.69 on Wednesday, hitting $29.23. 2,912,605 shares of the company were exchanged, compared to its average volume of 2,404,348. 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 company has a 50-day moving average price of $29.71 and a 200 day moving average price of $30.90. The stock has a market capitalization of $16.08 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth 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.

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Wall Street Analyst Weigh In

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

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.