Jones Financial Companies Lllp Acquires 9,252 Shares of Hormel Foods Co. (NYSE:HRL)

Jones Financial Companies Lllp raised its stake in Hormel Foods Co. (NYSE:HRL - Free Report) by 128.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,455 shares of the company's stock after purchasing an additional 9,252 shares during the period. Jones Financial Companies Lllp's holdings in Hormel Foods were worth $516,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HRL. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Hormel Foods by 4.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,417 shares of the company's stock valued at $25,944,000 after acquiring an additional 34,589 shares during the period. D.A. Davidson & CO. increased its position in Hormel Foods by 10.4% in the fourth 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 raised its stake in shares of Hormel Foods by 3.4% in the fourth quarter. US Bancorp DE now owns 626,360 shares of the company's stock valued at $19,649,000 after buying an additional 20,514 shares during the period. Citigroup Inc. increased its holdings in 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 acquiring an additional 52,457 shares during the last quarter. Finally, Grandfield & Dodd LLC boosted its position in Hormel Foods by 2.9% during the third quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company's stock worth $29,302,000 after purchasing an additional 26,390 shares during the period. Institutional investors and hedge funds own 40.99% of the company's stock.

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Hormel Foods Price Performance

HRL stock traded down $0.33 during mid-day trading on Tuesday, hitting $29.94. 3,359,907 shares of the stock were exchanged, 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 stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.73 and a beta of 0.21. The business has a fifty day moving average price of $29.74 and a 200 day moving average price of $30.91. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86.

Analysts Set New Price Targets

A number of research firms recently weighed in on HRL. Citigroup reduced their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. Barclays upgraded Hormel Foods from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.