Farther Finance Advisors LLC Has $462,000 Position in Hormel Foods Co. (NYSE:HRL)

Farther Finance Advisors LLC trimmed its stake in shares of Hormel Foods Co. (NYSE:HRL) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,734 shares of the company’s stock after selling 2,026 shares during the quarter. Farther Finance Advisors LLC’s holdings in Hormel Foods were worth $462,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after buying an additional 1,175,087 shares during the last quarter. Holocene Advisors LP raised its holdings in Hormel Foods by 56.0% in the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock valued at $70,934,000 after acquiring an additional 802,816 shares during the period. State Street Corp lifted its position in Hormel Foods by 2.5% during the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after acquiring an additional 617,308 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Hormel Foods during the fourth quarter worth approximately $16,612,000. Finally, Vest Financial LLC grew its position in shares of Hormel Foods by 17.0% in the fourth quarter. Vest Financial LLC now owns 1,825,660 shares of the company’s stock valued at $57,271,000 after purchasing an additional 264,813 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Stock Performance

NYSE:HRL opened at $29.53 on Monday. The company has a market cap of $16.24 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. The stock has a fifty day moving average price of $29.59 and a 200-day moving average price of $30.84.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HRL shares. Citigroup reduced 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. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.