FreeGulliver LLC Takes $273,000 Position in Hormel Foods Co. (NYSE:HRL)

FreeGulliver LLC purchased a new position in Hormel Foods Co. (NYSE:HRL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,700 shares of the company's stock, valued at approximately $273,000.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of 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 during the last quarter. Holocene Advisors LP raised its position in Hormel Foods by 56.0% in the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company's stock worth $70,934,000 after purchasing an additional 802,816 shares during the period. 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 worth $794,659,000 after purchasing an additional 617,308 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Hormel Foods during the fourth quarter valued at about $16,612,000. Finally, Vest Financial LLC grew its stake in shares of Hormel Foods by 17.0% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Up 1.2 %

HRL traded up $0.36 during midday trading on Friday, reaching $30.04. 9,492,164 shares of the company's stock traded hands, compared to its average volume of 2,418,726. The firm has a fifty day moving average of $29.54 and a two-hundred day moving average of $30.75. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 20.57, 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.

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on HRL. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Stephens restated an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. One 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 issued a strong buy rating to the company. According to MarketBeat, Hormel Foods currently 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.