Swiss National Bank Sells 39,900 Shares of Hormel Foods Co. (NYSE:HRL)

Swiss National Bank trimmed its position in Hormel Foods Co. (NYSE:HRL - Free Report) by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 852,000 shares of the company's stock after selling 39,900 shares during the period. Swiss National Bank owned approximately 0.16% of Hormel Foods worth $26,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HRL. D.A. Davidson & CO. raised its position 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 worth $311,000 after purchasing an additional 934 shares during the period. US Bancorp DE increased its stake in Hormel Foods by 3.4% during the 4th quarter. US Bancorp DE now owns 626,360 shares of the company's stock valued at $19,649,000 after purchasing an additional 20,514 shares in the last quarter. Citigroup Inc. raised its holdings in Hormel Foods by 13.1% during the third quarter. Citigroup Inc. now owns 452,510 shares of the company's stock worth $14,345,000 after buying an additional 52,457 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in shares of Hormel Foods by 2.9% in the third quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company's stock valued at $29,302,000 after buying an additional 26,390 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Hormel Foods by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company's stock valued at $58,548,000 after buying an additional 66,261 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several brokerages recently weighed in on HRL. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays upgraded 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 given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Hormel Foods currently has a consensus rating of "Hold" and an average price target of $31.80.

Hormel Foods Stock Up 1.2 %

NYSE:HRL traded up $0.36 on Friday, hitting $30.04. The stock had a trading volume of 9,465,763 shares, compared to its average volume of 2,416,628. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The firm's fifty day simple moving average is $29.54 and its two-hundred day simple moving average is $30.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The stock has a market cap of $16.52 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21.

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.