Grandfield & Dodd LLC Boosts Stake in Hormel Foods Co. (NYSE:HRL)

Grandfield & Dodd LLC increased its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 965,300 shares of the company's stock after acquiring an additional 40,935 shares during the period. Hormel Foods makes up about 1.9% of Grandfield & Dodd LLC's investment portfolio, making the stock its 20th biggest position. Grandfield & Dodd LLC owned approximately 0.18% of Hormel Foods worth $30,281,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Greenleaf Trust grew its position in Hormel Foods by 4.4% in the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company's stock valued at $252,000 after acquiring an additional 336 shares in the last quarter. Empower Advisory Group LLC raised its holdings in Hormel Foods by 3.7% during the third quarter. Empower Advisory Group LLC now owns 9,649 shares of the company's stock worth $306,000 after purchasing an additional 342 shares in the last quarter. CFS Investment Advisory Services LLC boosted its position in shares of Hormel Foods by 2.8% during the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company's stock valued at $422,000 after purchasing an additional 360 shares in the last quarter. New Century Financial Group LLC increased its stake in Hormel Foods by 6.2% in the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company's stock worth $211,000 after purchasing an additional 392 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in Hormel Foods by 4.8% during the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company's stock valued at $289,000 after purchasing an additional 416 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, VP Steven J. Lykken acquired 4,904 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the acquisition, the vice president now owns 7,100 shares of the company's stock, valued at approximately $230,537. This represents a 223.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stephens reiterated an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Citigroup decreased their price target on Hormel Foods from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, November 19th. Finally, Barclays upgraded shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $31.80.

Hormel Foods Price Performance

Shares of HRL traded up $0.23 during trading hours on Thursday, hitting $28.99. 1,970,154 shares of the company were exchanged, compared to its average volume of 2,396,705. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The company has a market cap of $15.94 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 2.73 and a beta of 0.21. The firm's fifty day moving average is $29.85 and its 200 day moving average is $30.98.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its earnings results on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The firm's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, equities analysts anticipate that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

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.