Lowe Brockenbrough & Co. Inc. Sells 1,545 Shares of Hormel Foods Co. (NYSE:HRL)

Lowe Brockenbrough & Co. Inc. reduced its stake in Hormel Foods Co. (NYSE:HRL) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,047 shares of the company’s stock after selling 1,545 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Hormel Foods were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HRL. Natixis Advisors LLC lifted its position in Hormel Foods by 11.2% in the 3rd quarter. Natixis Advisors LLC now owns 66,581 shares of the company’s stock valued at $2,111,000 after acquiring an additional 6,710 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Hormel Foods in the 3rd quarter valued at approximately $2,177,000. Prospera Private Wealth LLC bought a new position in Hormel Foods in the 3rd quarter valued at approximately $39,000. Charles Schwab Investment Management Inc. lifted its position in Hormel Foods by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock valued at $58,548,000 after acquiring an additional 66,261 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its position in Hormel Foods by 20.8% in the 3rd quarter. Raymond James Trust N.A. now owns 18,788 shares of the company’s stock valued at $596,000 after acquiring an additional 3,236 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Price Performance

Shares of HRL opened at $30.04 on Friday. The firm has a market cap of $16.52 billion, a PE ratio of 20.57, a P/E/G ratio of 2.73 and a beta of 0.21. 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 firm has a fifty day simple moving average of $29.54 and a two-hundred day simple moving average of $30.77. Hormel Foods Co. has a 1-year low of $27.59 and a 1-year high of $36.86.

Analyst Ratings Changes

Several equities analysts recently issued reports on HRL shares. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.