Edgestream Partners L.P. Acquires 121,941 Shares of Hormel Foods Co. (NYSE:HRL)

Edgestream Partners L.P. boosted its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 138.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 209,720 shares of the company’s stock after purchasing an additional 121,941 shares during the quarter. Edgestream Partners L.P.’s holdings in Hormel Foods were worth $6,579,000 at the end of the most recent quarter.

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

Hormel Foods Price Performance

Shares of Hormel Foods stock opened at $28.99 on Friday. The stock has a 50 day moving average price of $29.80 and a 200-day moving average price of $30.96. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The stock has a market cap of $15.94 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. Hormel Foods’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Equities analysts expect that Hormel Foods Co. will post 1.65 EPS for the current year.

Wall Street Analyst Weigh In

HRL has been the subject of several research analyst reports. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Citigroup decreased their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.