Intech Investment Management LLC Trims Position in Hormel Foods Co. (NYSE:HRL)

Intech Investment Management LLC trimmed its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 18.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,181 shares of the company's stock after selling 31,784 shares during the quarter. Intech Investment Management LLC's holdings in Hormel Foods were worth $4,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HRL. Bank of New York Mellon Corp boosted its holdings in Hormel Foods by 67.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company's stock valued at $91,810,000 after purchasing an additional 1,175,087 shares during the period. Holocene Advisors LP lifted its stake in Hormel Foods by 56.0% in the third quarter. Holocene Advisors LP now owns 2,237,674 shares of the company's stock worth $70,934,000 after acquiring an additional 802,816 shares during the last quarter. 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 acquiring an additional 617,308 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Hormel Foods during the 4th quarter worth $16,612,000. Finally, Vest Financial LLC lifted its position in shares of Hormel Foods by 17.0% during the 4th quarter. Vest Financial LLC now owns 1,825,660 shares of the company's stock worth $57,271,000 after purchasing an additional 264,813 shares during the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

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Hormel Foods Stock Performance

Shares of NYSE HRL traded up $0.36 during trading hours on Friday, reaching $30.04. The stock had a trading volume of 9,492,164 shares, compared to its average volume of 2,418,726. The firm has a market cap 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 fifty-two week low of $27.59 and a fifty-two week high of $36.86. The firm has a 50-day moving average of $29.54 and a 200-day moving average 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.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HRL shares. Stephens reaffirmed an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Hormel Foods presently has an average rating of "Hold" and a consensus 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.