Victory Capital Management Inc. Purchases 33,425 Shares of Hormel Foods Co. (NYSE:HRL)

Victory Capital Management Inc. raised its holdings in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 941,511 shares of the company's stock after buying an additional 33,425 shares during the period. Victory Capital Management Inc. owned about 0.17% of Hormel Foods worth $29,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HRL. Crews Bank & Trust purchased a new stake in Hormel Foods during the 4th quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in shares of Hormel Foods during the third quarter worth about $32,000. Prospera Private Wealth LLC bought a new stake in shares of Hormel Foods in the third quarter worth about $39,000. Capital Performance Advisors LLP purchased a new position in Hormel Foods during the 3rd quarter valued at about $47,000. Finally, Capital Advisors Ltd. LLC raised its position in Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock valued at $47,000 after purchasing an additional 690 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HRL has been the topic of several research analyst reports. Citigroup decreased their target price on Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Barclays raised shares of Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, Stephens reiterated an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. One investment 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 data from MarketBeat, Hormel Foods has an average rating of "Hold" and an average target price of $31.80.

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Hormel Foods Stock Down 1.1 %

Shares of NYSE:HRL traded down $0.33 during midday trading on Tuesday, reaching $29.94. The company's stock had a trading volume of 3,359,907 shares, compared to its average volume of 2,402,615. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $29.74 and a 200-day moving average of $30.91. The firm has a market capitalization of $16.47 billion, a P/E ratio of 20.51, a PEG ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86.

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.