Cibc World Markets Corp Raises Stock Position in Hormel Foods Co. (NYSE:HRL)

Cibc World Markets Corp increased its stake in Hormel Foods Co. (NYSE:HRL) by 14.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,528 shares of the company’s stock after acquiring an additional 14,886 shares during the quarter. Cibc World Markets Corp’s holdings in Hormel Foods were worth $3,593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Hormel Foods by 2.5% during the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after purchasing an additional 617,308 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hormel Foods by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company’s stock worth $232,646,000 after purchasing an additional 120,212 shares during the last quarter. Stifel Financial Corp boosted its stake in Hormel Foods by 5.2% during the 3rd quarter. Stifel Financial Corp now owns 3,267,186 shares of the company’s stock worth $103,570,000 after purchasing an additional 162,577 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 1,175,087 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in Hormel Foods by 56.0% during the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock worth $70,934,000 after purchasing an additional 802,816 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Down 0.3 %

NYSE HRL opened at $29.68 on Friday. The firm’s 50-day moving average is $29.54 and its two-hundred day moving average is $30.79. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock has a market capitalization of $16.32 billion, a P/E ratio of 20.33, a PEG ratio of 2.73 and a beta of 0.21.

Analyst Ratings Changes

HRL has been the topic of several recent research reports. 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. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.