Edgestream Partners L.P. Has $6.58 Million Stock Position in Hormel Foods Co. (NYSE:HRL)

Edgestream Partners L.P. lifted its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 138.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,720 shares of the company's stock after purchasing an additional 121,941 shares during the period. Edgestream Partners L.P.'s holdings in Hormel Foods were worth $6,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HRL. West Family Investments Inc. acquired a new position in Hormel Foods during the fourth quarter worth approximately $239,000. Candriam S.C.A. boosted its stake in shares of Hormel Foods by 2.3% during the 4th quarter. Candriam S.C.A. now owns 33,221 shares of the company's stock worth $1,042,000 after acquiring an additional 747 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company's stock worth $48,000 after acquiring an additional 729 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Hormel Foods in the 4th quarter valued at $7,891,000. Finally, Arizona State Retirement System lifted its holdings in Hormel Foods by 1.4% during the 4th quarter. Arizona State Retirement System now owns 87,600 shares of the company's stock valued at $2,748,000 after purchasing an additional 1,201 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Performance

Hormel Foods stock traded down $0.33 during midday trading on Tuesday, hitting $29.94. The company's stock had a trading volume of 3,359,907 shares, compared to its average volume of 2,403,445. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 20.51, a PEG 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. The company has a 50-day moving average price of $29.74 and a two-hundred day moving average price of $30.91.

Remove Ads

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HRL shares. 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 report on Tuesday, November 19th. Stephens reissued an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Barclays upgraded 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 assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $31.80.

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.