Hormel Foods Co. (NYSE:HRL) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 24.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 114,995 shares of the company's stock after purchasing an additional 22,839 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Hormel Foods were worth $3,607,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position in shares of Hormel Foods by 10.4% in the 4th quarter. D.A. Davidson & CO. now owns 9,905 shares of the company's stock worth $311,000 after buying an additional 934 shares during the last quarter. US Bancorp DE grew its position in shares of Hormel Foods by 3.4% in the 4th quarter. US Bancorp DE now owns 626,360 shares of the company's stock worth $19,649,000 after buying an additional 20,514 shares during the last quarter. Citigroup Inc. grew its position in shares of Hormel Foods by 13.1% in the 3rd quarter. Citigroup Inc. now owns 452,510 shares of the company's stock worth $14,345,000 after buying an additional 52,457 shares during the last quarter. Grandfield & Dodd LLC grew its position in shares of Hormel Foods by 2.9% in the 3rd quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company's stock worth $29,302,000 after buying an additional 26,390 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Hormel Foods by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company's stock worth $58,548,000 after buying an additional 66,261 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HRL shares. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.80.

Hormel Foods Stock Performance

NYSE:HRL traded up $0.36 during trading hours on Friday, hitting $30.04. 9,492,164 shares of the company were exchanged, compared to its average volume of 2,418,726. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. 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's 50 day moving average price is $29.54 and its 200-day moving average price is $30.75.

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.