Proficio Capital Partners LLC Makes New Investment in Hormel Foods Co. (NYSE:HRL)

Proficio Capital Partners LLC bought a new stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 42,412 shares of the company's stock, valued at approximately $1,330,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in Hormel Foods during the 4th quarter worth $25,000. Brooklyn Investment Group acquired a new position in Hormel Foods during the third quarter worth about $32,000. Prospera Private Wealth LLC purchased a new stake in Hormel Foods during the 3rd quarter valued at about $39,000. Capital Performance Advisors LLP acquired a new stake in Hormel Foods in the 3rd quarter valued at about $47,000. Finally, Capital Advisors Ltd. LLC lifted its stake in Hormel Foods by 86.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after purchasing an additional 690 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Down 1.1 %

HRL traded down $0.33 on Tuesday, hitting $29.94. The company had a trading volume of 3,359,680 shares, compared to its average volume of 2,403,445. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The firm has a market cap of $16.47 billion, a P/E ratio of 20.51, a PEG ratio of 2.73 and a beta of 0.21. The company's fifty day moving average price is $29.74 and its 200 day moving average price is $30.91. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86.

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Wall Street Analysts Forecast Growth

Several research firms recently commented on HRL. Citigroup cut their price target on Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Stephens reaffirmed an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. Finally, Barclays raised 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Hormel Foods currently has a consensus rating of "Hold" and an average target price of $31.80.

Hormel Foods Company 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.