Xponance Inc. Cuts Stake in Hormel Foods Co. (NYSE:HRL)

Xponance Inc. decreased its position in Hormel Foods Co. (NYSE:HRL) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,577 shares of the company’s stock after selling 959 shares during the period. Xponance Inc.’s holdings in Hormel Foods were worth $1,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Generali Asset Management SPA SGR acquired a new position in Hormel Foods during the fourth quarter worth $908,000. Cibc World Markets Corp grew its stake in shares of Hormel Foods by 14.9% during the 4th quarter. Cibc World Markets Corp now owns 114,528 shares of the company’s stock worth $3,593,000 after purchasing an additional 14,886 shares during the period. Creative Financial Designs Inc. ADV grew its stake in shares of Hormel Foods by 3.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 51,442 shares of the company’s stock worth $1,614,000 after purchasing an additional 1,515 shares during the period. GWN Securities Inc. purchased a new position in shares of Hormel Foods in the 4th quarter valued at about $944,000. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Hormel Foods by 24.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 114,995 shares of the company’s stock valued at $3,607,000 after purchasing an additional 22,839 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Stock Performance

NYSE:HRL opened at $30.04 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. The company has a market capitalization of $16.52 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The firm has a 50-day moving average price of $29.54 and a two-hundred day moving average price of $30.75. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HRL shares. Stephens reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.