Hormel Foods Co. (NYSE:HRL) Position Trimmed by Parallel Advisors LLC

Parallel Advisors LLC lowered its position in shares of Hormel Foods Co. (NYSE:HRL) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 95,587 shares of the company’s stock after selling 5,698 shares during the period. Parallel Advisors LLC’s holdings in Hormel Foods were worth $2,999,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of HRL. Bank of New York Mellon Corp grew its position in shares of Hormel Foods by 67.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after acquiring an additional 1,175,087 shares during the last quarter. Holocene Advisors LP grew its position in shares of Hormel Foods by 56.0% during the third quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock worth $70,934,000 after acquiring an additional 802,816 shares during the last quarter. State Street Corp grew its position in shares of Hormel Foods by 2.5% during the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after acquiring an additional 617,308 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Hormel Foods during the fourth quarter worth about $16,612,000. Finally, Vest Financial LLC grew its position in Hormel Foods by 17.0% in the 4th quarter. Vest Financial LLC now owns 1,825,660 shares of the company’s stock valued at $57,271,000 after buying an additional 264,813 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $30.01 on Tuesday. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86. 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 company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.73 and a beta of 0.21. The firm has a 50-day moving average of $29.58 and a two-hundred day moving average of $30.82.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Barclays upgraded 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 issued a $31.00 target price on shares of Hormel Foods in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.80.

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.