Arizona State Retirement System Boosts Holdings in Hormel Foods Co. (NYSE:HRL)

Arizona State Retirement System raised its stake in shares of Hormel Foods Co. (NYSE:HRL) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,600 shares of the company’s stock after buying an additional 1,201 shares during the quarter. Arizona State Retirement System’s holdings in Hormel Foods were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HRL. Greenleaf Trust grew its stake in Hormel Foods by 4.4% during the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after acquiring an additional 336 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in shares of Hormel Foods by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock valued at $306,000 after purchasing an additional 342 shares during the last quarter. CFS Investment Advisory Services LLC grew its position in shares of Hormel Foods by 2.8% during the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock valued at $422,000 after purchasing an additional 360 shares in the last quarter. New Century Financial Group LLC increased its holdings in shares of Hormel Foods by 6.2% in the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock worth $211,000 after purchasing an additional 392 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Hormel Foods by 4.8% in the third quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock worth $289,000 after buying an additional 416 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HRL shares. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Citigroup cut their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, Stephens restated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned 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, Hormel Foods has a consensus rating of “Hold” and a consensus price target of $31.80.

Hormel Foods Trading Up 3.2 %

Shares of HRL stock opened at $29.92 on Monday. The company has a market cap of $16.45 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The stock’s 50 day simple moving average is $29.76 and its two-hundred day simple moving average is $30.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19.

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.