Fairway Wealth LLC Invests $44,000 in Hormel Foods Co. (NYSE:HRL)

Fairway Wealth LLC bought a new position in Hormel Foods Co. (NYSE:HRL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,400 shares of the company’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Hormel Foods by 4.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,417 shares of the company’s stock worth $25,944,000 after buying an additional 34,589 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Hormel Foods by 10.4% in the 4th quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock valued at $311,000 after purchasing an additional 934 shares during the period. US Bancorp DE grew its stake in shares of Hormel Foods by 3.4% in the 4th quarter. US Bancorp DE now owns 626,360 shares of the company’s stock valued at $19,649,000 after purchasing an additional 20,514 shares during the period. Citigroup Inc. grew its stake in shares of Hormel Foods by 13.1% in the 3rd quarter. Citigroup Inc. now owns 452,510 shares of the company’s stock valued at $14,345,000 after purchasing an additional 52,457 shares during the period. Finally, Grandfield & Dodd LLC grew its position in Hormel Foods by 2.9% during the 3rd quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company’s stock worth $29,302,000 after acquiring an additional 26,390 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

HRL stock opened at $30.24 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The firm’s fifty day moving average is $29.74 and its 200 day moving average is $30.91. The firm has a market cap of $16.63 billion, a P/E ratio of 20.71, a P/E/G ratio of 2.73 and a beta of 0.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HRL shares. Citigroup cut their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Stephens restated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.