Hormel Foods Co. (NYSE:HRL) Shares Purchased by Financial Counselors Inc.

Financial Counselors Inc. boosted its position in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 369,909 shares of the company's stock after purchasing an additional 22,134 shares during the quarter. Financial Counselors Inc. owned about 0.07% of Hormel Foods worth $11,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock valued at $26,000 after acquiring an additional 647 shares during the period. CVA Family Office LLC purchased a new stake in Hormel Foods during the 1st quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in shares of Hormel Foods in the 2nd quarter worth $34,000. Central Valley Advisors LLC bought a new stake in shares of Hormel Foods in the second quarter worth $37,000. Finally, Register Financial Advisors LLC purchased a new stake in Hormel Foods during the first quarter valued at $42,000. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HRL. JPMorgan Chase & Co. raised shares of Hormel Foods from an "underweight" rating to a "neutral" rating and upped their target price for the company from $28.00 to $29.00 in a report on Friday, May 31st. Citigroup raised Hormel Foods from a "neutral" rating to a "buy" rating and boosted their price target for the company from $33.00 to $37.00 in a report on Tuesday, August 13th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $32.00 price objective on shares of Hormel Foods in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Hormel Foods currently has a consensus rating of "Hold" and an average target price of $32.33.

Hormel Foods Price Performance

Shares of Hormel Foods stock traded up $0.59 during trading hours on Tuesday, hitting $33.14. The company's stock had a trading volume of 3,203,971 shares, compared to its average volume of 2,684,393. The company has a market cap of $18.17 billion, a PE ratio of 23.25, a PEG ratio of 3.12 and a beta of 0.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.73. The business has a 50 day moving average price of $31.56 and a two-hundred day moving average price of $32.86. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $39.58.

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.