Avantax Advisory Services Inc. Purchases 2,971 Shares of Hormel Foods Co. (NYSE:HRL)

Avantax Advisory Services Inc. increased its position in shares of Hormel Foods Co. (NYSE:HRL) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,659 shares of the company’s stock after buying an additional 2,971 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Hormel Foods were worth $2,248,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Crews Bank & Trust bought a new position in shares of Hormel Foods during the fourth quarter worth about $25,000. Brooklyn Investment Group bought a new position in Hormel Foods in the third quarter valued at approximately $32,000. Prospera Private Wealth LLC bought a new position in Hormel Foods in the third quarter valued at approximately $39,000. Fairway Wealth LLC bought a new position in Hormel Foods in the fourth quarter valued at approximately $44,000. Finally, Capital Advisors Ltd. LLC grew its stake in Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after purchasing an additional 690 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Stock Performance

Shares of NYSE HRL opened at $29.53 on Monday. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The stock has a 50 day moving average of $29.59 and a 200-day moving average of $30.84. The company has a market capitalization 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HRL. Citigroup decreased their price target 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. Stephens restated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Finally, Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.80.

Hormel Foods 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.