Hormel Foods Co. (NYSE:HRL) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 24.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,995 shares of the company’s stock after purchasing an additional 22,839 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Hormel Foods were worth $3,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Natixis Advisors LLC grew its holdings in Hormel Foods by 4.4% in the fourth quarter. Natixis Advisors LLC now owns 69,538 shares of the company’s stock valued at $2,181,000 after purchasing an additional 2,957 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Hormel Foods by 4.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 71,659 shares of the company’s stock valued at $2,248,000 after buying an additional 2,971 shares during the period. HighTower Advisors LLC grew its stake in shares of Hormel Foods by 5.6% during the 4th quarter. HighTower Advisors LLC now owns 81,659 shares of the company’s stock valued at $2,562,000 after buying an additional 4,299 shares during the period. Fairway Wealth LLC acquired a new stake in shares of Hormel Foods during the 4th quarter worth $44,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Hormel Foods by 4.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 53,269 shares of the company’s stock valued at $1,671,000 after acquiring an additional 2,510 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HRL. Stephens restated an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a research note 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 analyst has rated the stock with a sell rating, two have given 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.com, the company has a consensus rating of “Hold” and an average price target of $31.80.

Hormel Foods Stock Down 0.7 %

Shares of NYSE HRL opened at $29.75 on Thursday. The stock has a fifty day moving average price of $29.56 and a 200 day moving average price of $30.80. The company has a market cap of $16.36 billion, a P/E ratio of 20.37, a P/E/G 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. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

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.