Blueshift Asset Management LLC Takes Position in Hormel Foods Co. (NYSE:HRL)

Blueshift Asset Management LLC bought a new position in Hormel Foods Co. (NYSE:HRL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,431 shares of the company's stock, valued at approximately $264,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new stake in shares of Hormel Foods during the 4th quarter worth $25,000. Brooklyn Investment Group acquired a new position in Hormel Foods during the 3rd quarter worth $32,000. Prospera Private Wealth LLC bought a new stake in Hormel Foods during the third quarter valued at about $39,000. Fairway Wealth LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at about $44,000. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after purchasing an additional 690 shares during the period. Institutional investors and hedge funds own 40.99% of the company's stock.

Wall Street Analysts Forecast Growth

HRL has been the subject of several recent analyst reports. Stephens restated 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 raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $31.80.

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Hormel Foods Stock Performance

HRL traded down $0.69 on Monday, hitting $29.29. 1,902,432 shares of the stock traded hands, compared to its average volume of 3,077,369. The business has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $30.75. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The firm has a market capitalization of $16.11 billion, a PE ratio of 20.04, a P/E/G ratio of 2.73 and a beta of 0.21.

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.