Proficio Capital Partners LLC Takes $1.33 Million Position in Hormel Foods Co. (NYSE:HRL)

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

Other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. grew its holdings in shares of Hormel Foods by 10.4% during the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company's stock valued at $311,000 after buying an additional 934 shares during the last quarter. US Bancorp DE lifted its position in Hormel Foods by 3.4% in the 4th quarter. US Bancorp DE now owns 626,360 shares of the company's stock valued at $19,649,000 after acquiring an additional 20,514 shares in the last quarter. Citigroup Inc. boosted its stake in Hormel Foods by 13.1% during the 3rd quarter. Citigroup Inc. now owns 452,510 shares of the company's stock valued at $14,345,000 after purchasing an additional 52,457 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Hormel Foods by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company's stock worth $58,548,000 after purchasing an additional 66,261 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of Hormel Foods in the third quarter worth approximately $1,025,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Stock Performance

Shares of NYSE:HRL traded down $0.70 during midday trading on Monday, reaching $29.29. The company had a trading volume of 4,097,577 shares, compared to its average volume of 2,425,575. 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 stock has a market cap of $16.10 billion, a P/E ratio of 20.06, a P/E/G 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's 50 day moving average price is $29.54 and its 200 day moving average price is $30.75.

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Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stephens reaffirmed an "equal weight" rating and set a $31.00 target price 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 report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.