Amundi Raises Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Amundi raised its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,406,527 shares of the company's stock after buying an additional 198,931 shares during the quarter. Amundi owned approximately 0.26% of Hormel Foods worth $42,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Hormel Foods by 2.5% in the third quarter. State Street Corp now owns 25,068,102 shares of the company's stock valued at $794,659,000 after buying an additional 617,308 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hormel Foods by 1.7% in the third 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 period. Stifel Financial Corp increased its holdings in shares of Hormel Foods by 5.2% in the third 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 period. Bank of New York Mellon Corp increased its holdings in shares of Hormel Foods by 67.1% in the fourth 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 period. Finally, Holocene Advisors LP increased its holdings 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. Hedge funds and other institutional investors own 40.99% of the company's stock.

Wall Street Analyst Weigh In

HRL has been the topic of a number of recent research reports. Citigroup dropped their target price on Hormel Foods from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, November 19th. Stephens reissued an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.80.

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Hormel Foods Trading Down 2.3 %

Shares of HRL stock opened at $29.23 on Thursday. The business's fifty day moving average price is $29.67 and its 200 day moving average price is $30.89. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86. The firm has a market capitalization of $16.08 billion, a PE ratio of 20.02, a P/E/G ratio of 2.73 and a beta of 0.21. 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 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.

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