PNC Financial Services Group Inc. Grows Stock Position in Hormel Foods Co. (NYSE:HRL)

PNC Financial Services Group Inc. boosted its stake in Hormel Foods Co. (NYSE:HRL) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,830 shares of the company’s stock after acquiring an additional 4,190 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hormel Foods were worth $2,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HRL. Crews Bank & Trust purchased a new position in shares of Hormel Foods during the 4th quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new position in shares of Hormel Foods during the 3rd quarter valued at approximately $32,000. Prospera Private Wealth LLC purchased a new position in shares of Hormel Foods during the 3rd quarter valued at approximately $39,000. Capital Advisors Ltd. LLC boosted its stake in shares of 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 buying an additional 690 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of Hormel Foods by 91.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after buying an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

HRL stock opened at $29.53 on Friday. 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 market cap of $16.24 billion, a P/E ratio of 20.22, 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 stock’s 50 day simple moving average is $29.59 and its 200 day simple moving average is $30.86.

Analyst Ratings Changes

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